Stock Market Gains N700bn On Positive Sentiment

Trading activities on the floor of the Nigerian Stock Exchange closed bullish last week following gains recorded by most blue-chip stocks.

The NSE All-Share Index and market capitalisation appreciated by 5.59 per cent to close the week at 25,204.75 and N13.136tn respectively.

All other indices finished higher with the exception of NSE ASeM, which closed flat.

A total turnover of 1.718bn shares worth N18.849bn in 26,367 deals were traded last week by investors on the floor of the Exchange, in contrast to 926.418m shares valued at N9.768bn that exchanged hands the previous week in 20,910 deals.

The financial services industry (measured by volume) led the activity chart with 1.273 billion shares valued at N11.362bn traded in 13,808 deals, thus contributing 74.08 per cent and 60.28 per cent to the total equity turnover volume and value respectively.

The industrial goods industry followed with 102.377 million shares worth N3.194bn in 2,956 deals, while the third place was occupied by the healthcare industry, with a turnover of 99.620m shares worth N493.348m in 1,194 deals.

Trading in the top three equities, namely Zenith Bank Plc, Access Bank Plc and FBN Holdings Plc (measured by volume), accounted for 673.104 million shares worth N6.803bn in 5,927 deals, contributing 39.18 per cent and 36.09 per cent to the total equity turnover volume and value respectively.

Fifty-five equities appreciated in price during the week, up from 32 in the previous week; eight equities depreciated in price, compared to 28 in the previous week, while 100 equities remained unchanged, as against 103 in the preceding week.

A total of 7,251 units valued at N42.01m were traded last week in 15 deals, compared with a total of 146,484 valued at N7.397 million transacted the preceding week in 13 deals.