64 Stocks Help Nigerian Exchange Grow 0.99% in One Week

Ikeja Hotel ganed 32.79 per cent in the three-day trading week to close at N12.15, Multiverse jumped by 32.61 per cent to N6.10, PZ Cussons gained 26.09 per cent to N29.00, Universal Insurance rose by 25.00 per cent to 55 Kobo, and Royal Exchange expanded by 24.66 per cent to 91 Kobo.

Conversely, Thomas Wyatt declined by 10.00 per cent to N1.71, Aradel Holdings shrank by 9.64 per cent to N600.00, Austin Laz weakened by 9.29 per cent to N1.66, DAAR Communications depreciated by 6.45 per cent to 58 Kobo, and Neimeth plunged by 5.00 per cent to N1.90.

The local stock market did not open for business on Wednesday and Thursday due to the public holiday declared by the federal government for Christmas and Boxing Day.

When the bourse ended last Friday, the All-Share Index (ASI) and the market capitalisation appreciated by 0.99 per cent to 102,133.30 points and N61.912 trillion, respectively.

Similarly, all other indices finished higher except the energy index, which slumped by 0.12 per cent as the ASeM and sovereign bond indices closed flat.

In the week, 1.387 billion shares worth N52.023 billion in 33,411 deals exchanged hands versus the 2.536 billion shares valued at N91.382 billion traded in 51,406 deals a week earlier.

The financial services sector led the activity chart with 881.646 million shares valued at N17.774 billion in 14,968 deals, contributing 63.58 per cent and 34.17 per cent to the total trading volume and value, respectively.

The energy space recorded the sale of 103.763 million equities worth N12.438 billion in 4,554 deals and the services industry posted a turnover of 98.622 million stocks worth N482.169 million in 1,998 deals.

UBA, Universal Insurance, and Zenith Bank accounted for 294.032 million shares worth N8.117 billion in 3,834 deals, contributing 21.20 per cent and 15.60 per cent to the total trading volume and value, respectively.