Going into the new week, Cowry Assets Management Limited, said earnings releases expectations from the banking heavyweights is expected to buoy trading activities as investors continue their bargain hunting activities in the market.
As a result, the NGX All-Share Index rose 0.63 per cent week-on-week to close at 49,682.15 points. Similarly, market capitalisation increased by N168 billion to close at N26.797 trillion. The market breadth for the week was negative as 27 equities appreciated in price, 38 equities depreciated in price, while 91 equities remained unchanged. NEM Insurance led the gainers table by 30.81 per cent to close at N5.00, per share. Mutual Benefits Assurance followed with a gain of 20.00 per cent to close at 30 kobo, while Japaul Gold and Ventures went up by 17.24 per cent to close to 34 kobo, per share.
Overall, a total turnover of 914.443 million shares worth N15.263 billion in 18,021 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 823.005 million shares valued at N12.228 billion that exchanged hands previous week in 17,482 deals.