Airtel, BUA, Others Influence ₦1.33trn Gain In First Trading Week At Stock Market.

The Nigerian Stock Market ended on a positive note on Friday as the likes of Airtel Africa Plc, BUA Foods, Lafarge Africa Plc, and FBN Holdings Plc gained ₦1.33 trillion to end the first trading week.

The stoke market last Friday saw all the share index increase by 2.7 percent to close at 43,854.42 basis points, from the 42,716.44 basis points it closed in 2021.

Also, the market capitalization rose to N23.628 trillion from the N22.296 trillion the stock market opened with trading on the first day on Tuesday.

The market closing on a positive note was influenced by foreign investors and high net worth investors’ demand for Airtel Africa Plc, BUA Foods, Lafarge Africa Plc, and FBN Holdings Plc.

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It was learned that the demand for Airtel Africa gained 10 percent to close at N1,050.50; bargain hunting in BUA Foods appreciated by 9.9 percent to close at N53.20.

Notably, Lafarge Africa gained 7.7 percent to close at N25.80; and FBN Holdings added four percent to close at N11.85, and spurred the weekly gain.

All other indices finished higher with the exception of NGX Premium, NGX insurance, NGX AFR Div Yield, NGX Meri Growth, NGX Consumer Goods, NGX Lotus II Indices, which depreciated by 0.47per cent, 0.93 percent, 0.97 percent, 0.66 percent, 0.87 percent, and 0.12 percent, respectively, while the NGX ASeM and NGX Sovereign bond indices closed flat.

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Similarly, the total volume of trades increased by 103.7per cent with an exchange of 1.24 billion units valued at N59.014 billion in 15,750 deals.

This was in contrast to a total of 995.361 million shares valued at N13.209 billion that exchanged hands prior to the week’s 10,264 deals.

The Consumer Goods Industry (measured by volume) led the activity chart with 1.255 billion shares valued at N 51.973 billion traded in 2,581deals; thus contributing 61.90per cent and 88.07per cent to the total equity turnover volume and value respectively.

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The Financial Services Industry followed with 537.959 million shares worth N4.627 billion in 8,015 deals. The third place was The ICT Industry, with a turnover of 76.906 million shares worth N704.346 million in 933 deals.

Trading in the top three equities namely BUA Foods, Wema Bank Plc, and Transnational Corporation of Nigeria Plc (measured by volume) accounted for 1.349 billion shares worth N51.253 billion in 1,120 deals, contributing 67 per cent and 86.85 per cent to the total equity turnover volume and value respectively.

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