The Nigerian equity market recorded a surge last week, as the All-Share Index and market capitalisation appreciated by 1.22 per cent and 1.26 per cent, respectively.
This brought the ASI to 103,598.30 points, while the market capitalisation rose to N63.645tn, reflecting a N794bn increase.
According to the analysis by the Punch newspaper on Monday, investors traded a total turnover of 3.132bn shares worth N76.552bn in 61,456 deals during the week. This marked a rise compared to the 2.252bn shares valued at N58.831bn traded in 63,657 deals the previous week.
It added that the financial services industry led the activity chart, contributing 74.59 per cent to the total equity turnover volume and 43.13 per cent to the value. Investors in the sector exchanged 2.336bn shares valued at N33.014bn in 27,100 deals.
Following this was the services industry, with 284.988m shares worth N807.646m traded in 4,638 deals. The consumer goods industry ranked third, recording a turnover of 139.010m shares valued at N5.704bn in 6,469 deals.
Trading in the top three equities were Wema Bank plc, Secure Electronic Technology plc, and Access Holdings plc, which accounted for 1.437bn shares worth N15.406bn in 5,292 deals. These equities contributed 45.89 per cent and 20.13 per cent to the total equity turnover volume and value, respectively.
In the exchange-traded products market, 35,261 units valued at N4.353m were traded in 123 deals last week, compared to 163,360 units valued at N15.866m transacted in 80 deals the previous week.
Similarly, in the bond market, 73,260 units worth N74.373m were traded in 30 deals, a drop from the 164,521 units valued at N160.490m recorded in the previous week in 52 deals.
Despite the overall market growth, some indices posted losses. While most indices finished higher, the insurance, consumer goods, oil and gas, and sovereign bond indices depreciated by 1.20 per cent, 1.20 per cent, 0.93 per cent, and 0.10 per cent, respectively. The Alternative Securities Market index closed flat.
Additionally, 44 equities appreciated in price last week, up from 33 equities in the previous week. However, the number of decliners dropped to 44 from 57 in the previous week, while 64 equities remained unchanged, slightly higher than the 62 recorded in the prior week.
Among the top price gainers were SCOA Nigeria plc, which surged by 59.68 per cent to close at N3.96, and UPDC plc, which gained 19.05 per cent to close at N2.00. Coronation Insurance plc followed with a 15.32 per cent increase to N2.56, while Royal Exchange plc and Daar Communications plc rose by 14.61 per cent and 13.51 per cent, respectively.
Conversely, Sunu Assurances Nigeria plc led the decliners, losing 25.11 per cent to close at N5.01. Eunisell interlinked plc dropped by 18.95 per cent to N12.66, while John Holt plc fell by 18.47 per cent to N8.30. Abbey Mortgage Bank plc and Cornerstone Insurance plc recorded losses of 14.60 per cent and 14.29 per cent, closing at N3.10 and N3.48, respectively.
GIK/APA