The Nigerian Exchange Ltd. (NGX) recorded a strong performance during the week, with the value of transactions rising by 82.9 per cent to 237.99 billion naira. A total of 3.25 billion shares changed hands in 287,919 deals, compared with 3.65 billion shares worth 130.15 billion naira traded in 244,777 transactions the previous week.
The NGX All-Share Index rose by 2.78 per cent, while market capitalisation increased by 2.90 per cent, resulting in a weekly gain of 4.57 trillion naira. The Financial Services Industry dominated trading, accounting for 2.58 billion shares valued at 97.21 billion naira in 138,900 deals.
The Services Industry followed with 131.10 million shares worth 2.73 billion naira, while the ICT Industry recorded 114.62 million shares valued at 21.54 billion naira. Fidelity Bank, Sterling Financial Holdings and Mutual Benefits Assurance jointly accounted for 1.23 billion shares worth 15.94 billion naira.
Market breadth also improved, with 52 equities gaining during the week, compared with nine in the previous week. Thirty-two equities declined, while 63 remained unchanged. UPDC Real Estate Investment Trust, Sovereign Trust Insurance, Mutual Benefits Assurance, Nigerian Exchange Group and First Holdco emerged among the top gainers, while Transcorp Power, John Holt, Ellah Lakes, Livingtrust Mortgage Bank and Omatek Ventures were among the biggest decliners.
The NGX also listed an additional 26.56 billion ordinary shares of Abbey Mortgage Bank and 1.069 billion shares of Critical Minerals Financing Corporation on its Daily Official List on September 17, with both shares valued at 50 kobo each.
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