Equities Market: Investors gain N584.08bn as NGX-ASI appreciates by 1.68%

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 Nigeria’s Equities Market closed positive on Friday  by 1.68% as the NGX-ASI increased to 65,003.39 compared to 63,930.72 recorded at the close of the previous trading day; indicating a YTD return of +26.83%. The market performance for the week increased likewise by 3.89% to 65,003.39 compared to 62,569.73 recorded at the beginning of the week (17/07/2023).

 Market capitalization increased for the day by N584.08 billion to N35,394.99 trillion from N34,810.91 trillion recorded at the close of the previous trading day, while the market turnover decreased to N14.26 billion from N18.07 billion recorded at the close of the previous trading day.

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At the end of the last weekday of trading, a total of 770,799,867 shares in 8,915 deals, corresponding to a market value of NGN 14,264,881,289.04, were traded. Compared with the previous NGX trading day (Thursday, July 20), today’s data shows 43% decline in volume, 21% decline in turnover, but 24% improvement in deals. The current market capitalization of the Nigerian Stock Exchange is NGN 35.4 trillion.

In the aggregate, 122 NGX listed equities participated in trading, ending with 48 gainers and 17 losers. Stanbic IBTC Holdings led the gainers with 10% share price appreciation closing at NGN 62.70 per share, followed by Guaranty Trust Holding (+10%), UAC of Nigeria (+10%) and Sterling Bank (+10%).

On the losing side, Academy Press came out last with an end-of-day price depreciation of 9.88% at NGN 2.19 per share, followed by Abbey Mortgage Bank (-9.68%), Cornerstone Insurance Company (-9.43%) and Secure Electronic Technology (-8.82%). United Bank for Africa recorded the highest volume of 111 million traded shares, followed by Access Holdings (88m), Zenith Bank (73.4m) and Guaranty Trust Holding (65.3m).

Regarding the performance of NGX market indices, the benchmark NGX All-Share Index (ASI) increased by 1,072.67 (1.68%) points to close at 65,003.39, representing a 1-week gain of 3.89%, a 4-week gain of 9.57%, and an overall year-to-date gain of 26.83%.

 Other remarkable indices that performed were the NGX Top 50 Index (+4.07%; +7.4% 1WK; +43.94% YTD), NGX Top 30 Index (+1.65%; +3.94% 1WK; +28.51% YTD), NGX Banking Index (+9.46%; +15.81% 1WK; +68.46% YTD), NGX Pension Index (+2.9%; +4.75% 1WK; +53.07% YTD), NGX Main Board Index (+1.69%; +2.65% 1WK; +20.14% YTD), and NGX Premium Index (+1.66%; +5.48% 1WK; +45.01% YTD).

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