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Weekly report: Transcorp, GTCO, Access sustain equity market’s upward trend

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Trading in top three equities namely: Transnational Corporation (Transcorp), Guaranty Trust Holding Company (GTCO) and Access Holdings contributed significantly to the stock market’s upward performance in the week ended.

Specifically, a total equity turnover of 1.773 billion shares worth N52.867 billion in 44,713 deals were traded in the week by investors on the Exchange.

This is in contrast to 2.157 billion shares valued at N108.824 billion that exchanged hands last week in 51,556 deals.

Meanwhile, the three top equities accounted for 677.439 million shares worth N17.287 billion in 7,789 deals traded, contributing 38.21 per cent and 32.70 per cent to the total equity turnover volume and value respectively.

Categorically, the Financial Services Industry led the activity chart in volume with 1.136 billion shares valued at N23.185 billion traded in 19,896 deals.

The industry contributed 64.04 per cent and 43.86 per cent to the total equity turnover in volume and value respectively.

The Conglomerates industry followed with 339.390 million shares worth N5.874 billion in 3,650 deals.

Consumer Goods industry also trailed third place with a turnover of 82.645 million shares worth N6.724 billion in 6,155 deals.

Also, for Exchange-Traded Products (ETP), a total of 19,403 units valued at N8.143 million were traded this week in 79 deals, compared to 24,397 units valued at N8.936 million transacted last week in 136 deals.

For bonds, a total of 229,700 units valued at N241.474 million were traded this week in 31 deals, as against 63,607 units valued at N63.432 million exchanged last week in 27 deals.

Consequently, the All-Share Index and Market Capitalisation appreciated by 3.71 per cent to close the week at 105,085.25 and N59.416 trillion, respectively.

Similarly, all other indices closed higher, with the exception of Nigeria Exchange Ltd. (NGX) Oil and Gas and NGX Sovereign Bond which depreciated by 0.11 per cent and 3.12 per cent, respectively.

55 equities also appreciated in price during the week under review, making it higher than 22 equities in the previous week.

Also, 24 equities depreciated in price, lower than 56 last week.

However, 75 equities remained unchanged, lower than 76 recorded in the previous week.(NAN)