Nigerian stock market records 0.33% gain

Nigerian stock market records 0.33% gain
Nigerian stock market records 0.33% gain

In the trading week that ended on Friday, October 27, Nigeria’s stock market saw a 0.33% increase as investors turned to value stocks with the commencement of the third-quarter (Q3) earnings season.

During the week, thirty-nine equities gained in price, surpassing the previous week’s 28, while forty-two equities declined in price, lower than the 46 in the preceding week.

A total of 76 equities remained unchanged, down from 83 the previous week. The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities Market Capitalization closed the week at 67,136.58 points and N36.885 trillion, respectively, marking an appreciation.

Other indices saw positive results, with only a few exceptions.

The market reported a total turnover of 1.446 billion shares valued at N25.418 billion in 28,933 deals, compared to the preceding week’s 1.496 billion shares valued at N24.284 billion in 29,298 deals.

The Financial Services Industry led in terms of volume and value, followed by the ICT Industry and the Conglomerates Industry.

The top three equities by volume traded were Access Holdings Plc, Fidelity Bank Plc, and United Bank for Africa Plc.