Julius Berger Plc, a building construction firm listed on the Nigerian Exchange Group Plc (NGX), reported a significant gain of 30.58% by the close of weekly trading, positioning it as the top gainer for the week.
This development underscores the demand for the shares of the construction giant, which concluded trading on Friday with a N27.200 billion increase in market capitalization, bringing its market valuation to N116.160 billion.
Analysis conducted by Nairametrics revealed that the company’s stock grew by 30.58% to N72.60 per share, resulting in an increase in market capitalization from N88.960 billion to N116.160 billion compared to the opening figures for the trading week, where it stood at N55.60 per share.
The other three top gainers
Other three notable gainers included shares of Omatek Ventures Plc, which experienced an increase of 23.08% to close at N0.80 per share from the week’s opening value of N0.65.
Similarly, MTN Nigeria Plc witnessed a 20.96% increase to close trading at N267.80 per share from an opening figure of N221.40.
Additionally, NEM Insurance Plc’s shares increased by 20.91% to close at N6.65 per share from the opening price of N5.50 per share.
The local bourse registered a 3.71% higher week-on-week (w/w), recording a significant gain, with the benchmark index settling at 105,085.25 points.
Market analysts attribute this positive trajectory to investors’ demand pressure on the stocks listed on the NGX.
Overall market performance
The NGX All-Share Index and Market Capitalization appreciated by 3.71% to close the week at 105,085.25 and N59.416 trillion respectively.
Similarly, all other indices finished higher except NGX Oil and Gas and NGX Sovereign Bond which depreciated by 0.11% and 3.12% respectively
A total turnover of 1.773 billion shares worth N52.867 billion in 44,713 deals was traded during the week by investors on the floor of the Exchange, in contrast to a total of 2.157 billion shares valued at N108.824 billion that exchanged hands last week in 51,556 deals.
- The Financial Services Industry (measured by volume) led the activity chart with 1.136 billion shares valued at N23.185 billion traded in 19,896 deals; thus contributing 64.04% and 43.86% to the total equity turnover volume and value respectively.
- The Conglomerates Industry followed with 339.390 million shares worth N5.874 billion in 3,650 deals. The third place was the Consumer Goods Industry, with a turnover of 82.645 million shares worth N6.724 billion in 6,155 deals.
- Trading in the top three equities namely Transnational Corporation Plc, Guaranty Trust Holding Company Plc and Access Holdings Plc (measured by volume) accounted for 677.439 million shares worth N17.287 billion in 7,789 deals, contributing 38.21% and 32.70% to the total equity turnover volume and value respectively.