The Nigerian Exchange Ltd NGX closed the week strong as the All Share Index rose by 1.35 percent while market capitalisation increased by 1.36 percent to settle at 148977.64 points and N94.561 trillion respectively compared to 146988.04 points and N93.296 trillion in the previous week.
This performance added N1.265 trillion to investors' portfolios showing renewed confidence in the market and new growth opportunities for MSMEs seeking capital through equities.
All indices ended higher except the NGX CG NGX Banking NGX AFR Bank Value NGX AFR Div Yield NGX MERI Growth NGX MERI Value and NGX Growth indices which recorded slight declines.
A total of 2.422 billion shares worth N76.618 billion were traded in 126591 deals compared with 2.286 billion shares valued at N90.280 billion in 138177 deals last week.
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The financial services industry dominated trading with 1.662 billion shares worth N32.565 billion accounting for 68.65 percent of total volume and 42.50 percent of total value. The ICT sector followed with 184.884 million shares worth N8.662 billion while the services sector placed third with 154.537 million shares valued at N1.066 billion.
Consolidated Hallmark Holdings Fidelity Bank and Access Holdings led market activity with a combined 618.549 million shares worth N9.220 billion representing 25.54 percent of total turnover.
Fifty-two equities appreciated in price while forty-one declined and fifty-three remained unchanged. Top gainers were Sovereign Trust Insurance Royal Exchange Eunisell Interlinked SFS Real Estate Investment Trust and Omatek Ventures. The week's top losers included Tripple Gee Academy Press Regency Alliance Insurance Livingtrust Mortgage Bank and Industrial and Medical Gases.
Analysts said the sustained market performance could encourage MSMEs to explore equity financing as a viable path for expansion and business growth in the coming months.
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