Nigerian Equities Market Close Week Bullish As Investors Gain N340 Billion

The Nigerian equity market recorded a fourth consecutive weekly gain to kick start the last quarter of the year as the All-Share index grew by 1.61% to close at 40,868.36 points.

Similarly, stock market investors gained N340 billion during the week as the total equities market capitalization rose to N21.3 trillion, a 1.6% increase compared to N20.96 trillion recorded as of the end of the previous week.

This is contained in the weekly stock market report, released by the Nigerian Exchange Group (NGX). Notably, the All-share index rose from 40,22.17 points recorded as of 30th September 2021 to close at 40,868.36 points as of the end of the review week.

Equity market performance
A total turnover of 2.179 billion shares worth N21.963 billion in 22,438 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 2.187 billion shares valued at N16.183 billion that exchanged hands last week in 14,377 deals.

The Financial Services Industry led the activity chart with 1.77 billion shares valued at N18.06 billion traded in 12,942 deals; thus contributing 81.20% and 82.22% to the total equity turnover volume and value respectively.
The Conglomerates followed with 93.18 million shares worth N169.819 million in 736 deals. The third place was ICT Industry, with a turnover of 72.338 million shares worth N1.043 billion in 861 deals.
Trading in the top three equities in terms of volume were FBN Holdings Plc, Universal Insurance Plc and Fidelity Bank, jointly recording trades on 1.16 billion shares worth N12.334 billion in 3,460 deals, contributing 53.28% and 56.18% to the total equity turnover volume and value respectively.
Similarly, all other indices finished higher with the exception of NGX Insurance and NGX Consumer Goods Indices that shed 1.51% and 0.51% respectively, while the NGX ASeM, NGX Growth and NGX Sovereign Bond Indices closed flat.
Forty-two (42) equities appreciated in price during the week, higher than thirty-three (33) equities in the previous week. On the flip side, twenty-two (26) equities depreciated in price, higher than twenty-two (22) equities in the previous week, while eighty-seven (87) equities remained unchanged lower than one hundred (100) equities recorded in the previous week.

Meanwhile, Jaiz Bank listed 5.08 billion ordinary shares of 50 kobo each, which increases the total issued and fully paid-up shares of the bank to 34.54 billion. On the other hand, the Exchange notified the public of the lifting of suspension placed on trading in the shares of African Alliance Insurance and Royal Exchange Plc.

Exchange-Traded Products (ETPs)
A total of 260 units valued at N5,362 were traded this week in 2 deals compared with a total of 160,433 units valued at N52.35 transacted last week in 23 deals.

The two bonds traded during the week were VETINDETF and VETGRIF30.

Fixed Income Securities Market
A total of 62,005 units valued at N65.842 million were traded this week in 39 deals compared with a total of 41,267 units valued at N42.568 million transacted last week in 17 deals.

The securities traded during the week were; FGSUK2027S3, FGSUK2025S2, FG142027S1, FG152028S1, FGS202487, FGS202267, FG132036S2, FGS202369, FGSUK2024S1, FGS202381, FGS202143, and FGS202375.

The Federal Government Bonds for the month of September 2021 were listed on the Nigerian Exchange Limited on Monday, 4th October 2021.