September 23, 2023

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Access, GT and Fidelity Boosts Market Breadth


CEM REPORT | Access Bank Plc, Guaranty Trust Holding Company Plc and Fidelity Bank Plc led the banking sector to dominate trading in the week ended on the floor of The Nigerian Exchange. Trading in the top three equities (measured by volume) accounted for 500.778 million shares worth N7.455 billion in 3,603 deals, contributing 29.23% and 24.23% to the total equity turnover volume and value respectively.

Overall, 1.064 billion shares valued at N12.201 billion traded in 11,708 deals was contributed by the Financial Services Industry (measured by volume); thus contributing 62.14% and 39.66% to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 156.077 million shares worth N5.004 billion in 4,877 deals. The third place was The Conglomerates Industry, with a turnover of 113.554 million shares worth N309.833 million in 1,062 deals.

A total turnover of 1.713 billion shares worth N30.764 billion in 24,767 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.331 billion shares valued at N22.700 billion that exchanged hands last week in 27,822 deals.

The NGX All-Share Index and Market Capitalization depreciated by 0.13% and 0.12% to close the week at 47,140.48 and N25.406 trillion respectively.

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However, all other indices finished higher with the exception of NGX Premium, NGX Banking, NGX AFR Bank value, NGX Oil & Gas and NGX Industrial Goods which depreciated by 0.29%, 0.74%, 0.86%, 3.45%, and 0.32% respectively while the NGX Main Board, NGX Asem, NGX Growth and NGX Sovereign Bond Indices closed flat. (See summary of index movements.

R T Briscoe PLC, Learn Africa Plc and SCOA Motors Plc led 43 other equities that appreciated in price during the week, lower than Forty-four (44) equities in the previous week. On the other side, CWG Plc, Berger Paints Plc and Nigerian Exchange Group led other 38 equities that depreciated in price, higher than Thirty-one (31) equities in the previous week.

Seventy-five (75) equities remained unchanged higher than Eighty-one (81) equities recorded in the previous week.

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