Nigerian bourse welcomes new regime  bullishly, up 5.37% for the week

The NGX All-Share Index and Market Capitalization appreciated by 5.37 per cent to close the week at 55,820.50 and N30.395 trillion respectively, despite that the market opened for four trading days as the Federal Government of Nigeria declared Monday 29th May 2023 as Public Holidays to commemorate the inauguration of the newly elected President of the Federal Republic of Nigeria.

.Similarly, all other indices finished higher with the exception of NGX Growth which depreciated by 0.18% while the NGX ASeM and NGX Sovereign Bond indices closed flat

A total of 66 equities appreciated in price during the week higher than 60 in the previous week, even as 23 equities depreciated in price higher than 21 in the previous week, while 67  remained unchanged, lower than 75) recorded in the previous week.

A total turnover of 2.586 billion shares worth N46.643 billion in 35,122 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.963 billion shares valued at N33.899 billion that exchanged hands last week in 30,827 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.890 billion shares valued at N23.041 billion traded in 17,806 deals; thus contributing 73.10% and 49.40% to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 170.218 million shares worth N638.188 million in 1,830 deals. The third place was the Consumer Goods Industry, with a turnover of 132.432 million shares worth N3.837 billion in 4,938 deals.

Trading in the top three equities namely Access Holdings Plc, United Bank for Africa Plc and FBN Holding (measured by volume) accounted for 915.908 million shares worth N10.916 billion in 6,575 deals, contributing 35.42% and 23.40% to the total equity turnover volume and value respectively.

A total of 10,317 units of ETP valued at N4.214 million were traded in the week in 62 deals compared with a total of 16,176 units valued at N5.118 million transacted last week in 86 deals

The Bonds sector traded a total of 44,858 units valued at N44.174 million last week in 24 deals compared with a total of 12,837 units valued at N12.608 million transacted  upper week in 16 deals