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Investors gain N137b on 19,617 deals

African exchanges to begin real-time cross-border trading Notore posts N9.4b revenue in nine months

Nigerian equities closed weekend with a net capital gain of about N137 billion as investors struck 19,617 deals at the main stock market.

Benchmark indices at the stock market showed a slowdown in momentum of activities but intense bargain-hunting for Nigeria’s second largest telecommunications company-Airtel Africa Pl c and oil and gas major- Conoil Plc rallied the overall market to a positive closing.

The All Share Index (ASI)- the value-based common index that tracks all share prices at the Nigerian Exchange (NGX) Limited closed the week with average gain of 0.68 per cent, equivalent to net capital gain of N137 billion. This moderated the negative average year-to-date return to -3.63 per cent.

Aggregate market value of all quoted equities increased from the week’s opening value of N20.084 trillion to close weekend at N20.221 trillion. The ASI had risen from its opening index of 38,547.08 points to close weekend at 38,810.75 points.

With all sectoral indices closing negative, the positive overall market position was driven largely by gains recorded by Airtel Africa, which rose by 5.69 per cent or N35 to lose weekend at N650 per share and Conoil, which rose by 10 per cent or N1.85 to close at N20.35 per share.  There were 23 gainers against 36 losers during the week.

A total turnover of 989.593 million shares worth N8.183 billion were traded in 19,617 deals last week as against a total of 1.374 billion shares valued at N11.823 billion traded in 22,982 deals two weeks ago.

The financial services industry led the activity chart with 603.656 million shares valued at N3.864 billion traded in 9,337 deals; thus contributing 61 per cent and 47.22 per cent   to the total equity turnover volume and value. The conglomerates industry followed with 102.233 million shares worth n133.987 million in 846 deals. The third place was consumer goods industry, with a turnover of 80.979 million shares worth N1.250 billion in 2,902 deals.

Trading in the top three equities namely Transnational Corporation Of Nigeria Plc, Sterling Bank Plc and FBN Holdings Plc accounted for 210.187 million shares worth N554.388 million in 1,414 deals, contributing 21.24 per cent and 6.77 per cent to the total equity turnover volume and value respectively.

A total of 17,550 units valued at N34.012 million were traded last week in 36 deals compared with a total of 12,242 units valued at N911,149.30 traded in 17 deals two weeks ago.

Also; a total of 702,021 bond units valued at N709.343 million were traded last week in 17 deals compared with a total of 29,324 bond units valued at N30.799 million traded in 12 deals penultimate week.

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