Heavy transactions in the shares of some banks and insurance companies lifted the volume of shares traded as a turnover of 914.4 million shares worth N15.3 billion was recorded in 18,021 deals..
This volume of shares traded was however higher than 823 million units valued at N12.2 billion that changed hands in 17,482 deals during the period ended August 19, 2022.
Specifically, at the close of transactions last week, the financial services industry (measured by volume) led the activity chart with 723
million shares valued at N5.2 billion traded in 9,122 deals. The sector contributed 79.08 per cent to the total equity turnover volume.
This volume of shares traded was however higher than 823 million units valued at N12.2 billion that changed hands in 17,482 deals during the period ended August 19, 2022.
Specifically, at the close of transactions last week, the financial services industry (measured by volume) led the activity chart with 723
million shares valued at N5.2 billion traded in 9,122 deals. The sector contributed 79.08 per cent to the total equity turnover volume.
The consumer goods sector followed with a turnover of 51.1 million units worth N4.7 billion in 2,610 deals. The conglomerates’ industry ranked third with a turnover of 36.1 million shares worth N72.4 million in 527 deals.
Trading in the top three equities namely Mutual Benefits Assurance Plc, FBN Holdings Plc and Access Holdings Plc (measured by volume) accounted for 325.8 million shares worth N1.8 billion in 1,897 deals, contributing 35.6 per cent to the total equity turnover volume and value respectively.
A total of 6,968 units of Exchange Traded Products valued at N894,205.74 were traded this week in 17 deals compared to
a total of 2,378 units valued at N1.5 million were transacted last week in 22 deals.
Furthermore17,470 units of bonds, valued at N18.2 million were traded in 15 deals compared with a total of 78,821 units valued at N82.638 million transacted last week in 19 deals.
The NGX All-share Index and M
market capitalisation appreciated by 0.6 per cent to close the week at 49,682.15 and N26.797 trillion respectively.
All other indices finished lower with the exception of NGX-Main Board, NGX 30 Index, NGX
Insurance Index, NGX-AFR Bank Value and NGX Lotus II Indices appreciated by 2.56 per cent, 0.48 er cent, 3.88 per cent, 0.07 and 0.11 per cent while NGX ASeM and Growth indices closed flat.
27 equities appreciated in price during the week, higher than 21 equities in the previous week. 38 equities depreciated in price lower than 41 in the previous week, while 91 equities remained unchanged.
Chief Executive Officer of Investdata Consulting, Ambrose Omordion said price corrections in large-cap companies and retracement in the prices of some blue chips signalled strength for rebound and higher upside potentials for value and growth stocks with stronger earnings that had suffered losses in this recent wave.
At this point, traders should try new strategies or experiments. Do not be upset with the market mood. Track the new strategy to measure if you are making headways because the factors against the market are many now
“While we note the effects of the increasing global volatility as a result of rising rates, inflation, geopolitical tension and slowing consumer spending, there are, however, pockets of strength in some sectors amidst impressive earnings releases that offer insights into strong group stocks with value in the industries and companies in the various sectors.
“There is the possibility of sectors beating the next quarterly estimates and predictions, attaining their pre-pandemic performances as they deal with capacity in the midst of soaring costs and insecurity,” he said.
Trading in the top three equities namely Mutual Benefits Assurance Plc, FBN Holdings Plc and Access Holdings Plc (measured by volume) accounted for 325.8 million shares worth N1.8 billion in 1,897 deals, contributing 35.6 per cent to the total equity turnover volume and value respectively.
A total of 6,968 units of Exchange Traded Products valued at N894,205.74 were traded this week in 17 deals compared to
a total of 2,378 units valued at N1.5 million were transacted last week in 22 deals.
Furthermore17,470 units of bonds, valued at N18.2 million were traded in 15 deals compared with a total of 78,821 units valued at N82.638 million transacted last week in 19 deals.
The NGX All-share Index and M
market capitalisation appreciated by 0.6 per cent to close the week at 49,682.15 and N26.797 trillion respectively.
All other indices finished lower with the exception of NGX-Main Board, NGX 30 Index, NGX
Insurance Index, NGX-AFR Bank Value and NGX Lotus II Indices appreciated by 2.56 per cent, 0.48 er cent, 3.88 per cent, 0.07 and 0.11 per cent while NGX ASeM and Growth indices closed flat.
27 equities appreciated in price during the week, higher than 21 equities in the previous week. 38 equities depreciated in price lower than 41 in the previous week, while 91 equities remained unchanged.
Chief Executive Officer of Investdata Consulting, Ambrose Omordion said price corrections in large-cap companies and retracement in the prices of some blue chips signalled strength for rebound and higher upside potentials for value and growth stocks with stronger earnings that had suffered losses in this recent wave.
At this point, traders should try new strategies or experiments. Do not be upset with the market mood. Track the new strategy to measure if you are making headways because the factors against the market are many now
“While we note the effects of the increasing global volatility as a result of rising rates, inflation, geopolitical tension and slowing consumer spending, there are, however, pockets of strength in some sectors amidst impressive earnings releases that offer insights into strong group stocks with value in the industries and companies in the various sectors.
“There is the possibility of sectors beating the next quarterly estimates and predictions, attaining their pre-pandemic performances as they deal with capacity in the midst of soaring costs and insecurity,” he said.
