NGX records 2.86% weekly gain on increased turnover
The Nigerian equities market recorded a 2.86% weekly gain to close at 254,299.49 points, driven by increased turnover and industrial stocks. Read More: https://punchng.com/ngx-records-2-86-weekly-gain-on-increased-turnover/
The Nigerian equities market experienced a 2.86% weekly gain in October, driven by industrial stocks and increased trading volumes, according to JIDE AJIA's weekly market analysis. The total turnover for the week reached 7.619 billion shares valued at 637.826 billion, up from 2.024 billion shares valued at 110.773 billion traded the previous week.
The Financial Services Industry led the market activity, accounting for 91.75% of the total equity turnover volume and 89.91% of the total value. The Consumer Goods Industry and the Services Industry followed, contributing to 89.09% and 0.16% of the total equity turnover volume, respectively. Notable performers included Dangote Cement Plc, which led the top price gainers with a 27.81% increase, while Caverton Offshore Support Group Plc led the price decliners with a 25.00% decrease.
The Foreign Exchange market saw a remarkable 43.02% increase in total turnover, with a 41.33% rise in FX Spot transactions and a 249.24% increase in FX Derivatives transactions.
Written by urgent.news from Punch Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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