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Equity Investors Make N954 Billion in Just One Week from the Stock Market
By Oluchukwu Ikemefuna
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Equity Market Gains: Trading on the Nigerian Exchange Ltd. (NGX) this week closed at a high rate: an increase of 1.73 percent to the previous rate. This follows investors’ increased demand for banking, insurance, and oil and gas stocks.
Equity Market Gains
According to TD.com, equity investors purchase stock for a share of ownership in companies with the expectation that the stock may earn dividends or can be resold with a capital gain.
If the investment were to rise in value, the equity they could get for selling it potentially increase. In just one week, investors make N954 billion in the Nigerian stock market.
The All-Share Index and Market Capitalisation increased by 1.73 percent to close the week at 99,300.38 and N56.172 trillion respectively, compared to 97,612.51 and N55.218 trillion recorded last week. This translated into N954 billion profit for equity investors.
The financial services industry with 1.91 billion shares worth N23.92bn exchanged in 21,717 deals, led the activity chart as evaluated by volume.
This industry contributed 76.42 percent and 87.41 percent, respectively, to the overall stock turnover value and volume.
Stock Market Surge Causes Equity Market Gain
The oil and gas sector came next with 2,109 sales, totalling 55.35 million shares valued at N3.09bn.
Also Read: Equity Loan Calculator: Understanding How It Works
Similarly, the agriculture industry ranked third with a turnover of 45.09 million shares in 1,615 deals, valued at N377.62m.
Trading in the top three equities namely: Abbey Mortgage Bank Plc, Access Holdings Plc and Zenith Bank Plc, measured by volume accounted for 1.129 billion shares worth N14.914 billion in 6,494 deals.
This contributed 51.57 per cent and 47.64 per cent to the total equity turnover volume and value respectively.
Conclusion
Meanwhile, the gainers’ table was led by Fidelity Bank, Dangote Sugar Refinery Plc, Nascon Allied Industries Plc, FCMB Group Plc, and United Bank for Africa(UBA).
