Stock market: Investors gain N371 billion as equities market extends rally

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Investors in the local bourse gained N371 billion during the week as the market capitalisation recorded a growth of 1.83% to close at N20.59 trillion as compared to N20.22 trillion recorded at the end of the previous week.

This means the equities market consolidated on the gains recorded in the previous week as it posted a 1.83% growth in the all-share index in the week ended 13th August, 2021 to close at 39,522.34 points.

This is contained in the weekly market report released by the Nigerian Exchange group (NGX).

During the week, a total of 1.61 billion shares valued at N12.59 billion was traded in 18,622 deals compared to 989.59 million shares at N8.18 billion, which exchanged hands in 19,617 deals in the previous week.

The financial service industry led the activity chart at the bourse with trades in 584.79 million shares worth N3.728 billion across 8,658 deals.

The financial services sector contributed 36.32% and 29.62% to the total equity turnover volume and value respectively.

The consumer goods industry followed with 525.860 million shares worth N3.655 billion in 3,553 deals. The third place was the natural resources industry, with a turnover of 250.928 million shares worth N1.376 billion in 72 deals.

The top three traded equities during the week were Honeywell Flour Mill Plc, B.O.C. Gases Plc, and Flour Mills Nig Plc, which traded an aggregate of 724.07 million shares worth N3.91 billion in 1,061 deals, contributing 44.97% and 31.06% to the total equity turnover volume and value respectively.

Twenty-nine (29) equities appreciated in price during the week, the same number of equities depreciated in price, while ninety-eight (98) equities remained unchanged.

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