Nigeria’s equity market gained N2.02trn, year-to-date, at the close of trading on February 24, 2023, the eighth week of trading in the year.
Market capitalisation which opened with 29.93 trillion on January 4, closed N27.91 trillion on February 24, representing an increase of N2.02 representing 7.3 percent rise.
A total turnover of 799.848 million shares worth N29.354 billion in 14,194 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 751.990 million shares valued at N20.575 billion that exchanged hands last week in 15,822 deals.
The Financial Services Industry (measured by volume) led the activity chart with 480.122 million shares valued at N6.129 billion traded in 6,319 deals; thus contributing 60.03% and 20.88% to the total equity turnover volume and value respectively.
The Utilities Industry followed with 126.882 million shares worth N12.940 billion in 289 deals. The third place was the ICT Industry, with a turnover of 54.012 million shares worth N5.930 billion in 1,575 deals.
Trading in the top three equities namely Geregu Power Plc, Guaranty Trust Holding Company Plc and Zenith Bank Plc. (measured by volume) accounted for 307.755 million shares worth N17.489 billion in 2,325 deals, contributing 38.48% and 59.58% to the total equity turnover volume and value respectively.
The NGX All-Share Index and Market Capitalization appreciated by 2.13% to close the week at 54,949.21 and N29.934 trillion respectively.
About the Author
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
