United Capital Plc was the top gainer in the NGX for the week ending July 19, 2024, with its share price appreciating by 42.78% to close the week at N40.55.
There was heightened interest in United Capital during the week, especially after the company announced it was going to pay interim dividends for the first time in its history.
In the week ending July 19, 2024, the NGX posted a 0.87% gain to reach an All-Share Index of 100,539.4 points and a market capitalization of N56.93 trillion, its highest since mid-April.
Year to date, the NGX has produced a return of 34.46%, as the market overtook June’s inflation rate of 34.19%.
United Capital’s share price moved from N28.40 to N40.55 to mark a 42.78% appreciation. Throughout the week, approximately 75.7 million United Capital shares exchanged hands, driven by heightened investor interest following the company’s interim dividend announcement.
Year to date, United Capital has produced a return of 76.3%.
Linkage Assurance Plc was the top decliner during the week, with a 24.56% decline, as its share price moved from N1.14 to N0.86. The stock has declined by 42.67% from its year-high price of N1.50.
In the week ending July 19, investors on the NGX traded a total of 2.827 billion shares valued at N42.366 billion across 44,277 deals. This is compared to the preceding week’s turnover of 2.765 billion shares worth N85.230 billion in 40,796 deals.
The Financial Services stocks dominated the activity chart by volume, with 2.179 billion shares worth N30.667 billion traded across 25,260 deals, accounting for 77.08% of the total equity turnover volume and 72.38% of its value.
The Industrial Goods stocks followed, with 246.921 million shares valued at N2.039 billion in 2,068 deals.
Oil and Gas stocks ranked third, recording a turnover of 107.218 million shares worth N1.704 billion in 3,128 deals.
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