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FBN Holdings Plc has emerged as the top gainer in the Nigerian stock market, leading 41 other advanced equities and pushing the Nigerian Exchange Ltd. (NGX) market indices up by 1.46 per cent, week-on-week.
This growth resulted in a significant increase in the market capitalization, with investors gaining a total of N811 billion.
The stock market, which was open for four days following the May Day holiday, saw FBN Holdings leading the pack with a 32.68 per cent increase in share value, closing at N27 per share.
Sterling Financial Holdings followed with a 27.75 per cent increase, closing at N4.88 per share. UACN and Julius Berger also saw significant gains, with increases of 24.60 per cent and 23.76 per cent, respectively.
Flour Mills rounded up the top gainers with a 20.66 per cent increase, closing at N36.80 per share.
On the other hand, Nascon Allied Industries Plc led the losers’ table with a 17.03 per cent decline, closing at N43.60 per share.
University Press, Neimeth International Pharmaceuticals, Berger Paints Plc, and Vitafoam Nigeria also experienced declines, with losses ranging from 14.14 per cent to 9.87 per cent.
Overall, 42 equities appreciated in price, while 36 equities declined, and 76 remained unchanged.
The All-Share Index and Market Capitalisation appreciated by 1.46 per cent to close the week at 99,587.25 and N56.323 trillion, respectively.
The financial services industry dominated the market, accounting for 77.08 per cent of the total equity turnover volume and 68.78 per cent of the total equity turnover value.
The consumer goods industry and the conglomerates industry followed, with significant trading volumes and values.
Trading in the top three equities, namely Abbey Mortgage Bank Plc, Guaranty Trust Holdings Company Plc, and Access Holdings Plc, accounted for 46.31 per cent of the total equity turnover volume and 43.85 per cent of the total equity turnover value.
The Nigerian stock market has experienced a positive week, with FBN Holdings leading the way in boosting market indices and investor gains.
The financial services industry continues to dominate the market, and trading in top equities has contributed significantly to the overall growth of the market.
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