Stock Market Extends Weekly Gains By N160bn

Trading activities on the floor of the Nigerian Stock Exchange sustained positive sentiment last week as the NSE All-Share Index and market capitalisation appreciated by 1.17 per cent to close at 25,605.64 and N13.36tn respectively.

All other indices finished higher with the exception of NSE ASeM Index, which depreciated by 1.63 per cent.

A total turnover of 2.21 billion shares worth N10.96bn in 18,013 deals were traded last week by investors on the floor of the Exchange, in contrast to a total of 1.07 billion shares valued at N7.38bn that exchanged hands the previous week in 16,684 deals.

The construction/real estate industry (measured by volume) led the activity chart with 954.53 million shares valued at N681.39m traded in 218 deals, thus contributing 43.21 per cent and 6.22 per cent to the total equity turnover volume and value respectively.

The financial services industry followed with 889.89 million shares worth N6.54bn in 10,107 deals.

The third place was occupied by the conglomerates with a turnover of 209.44 million shares worth N579.99m in 677 deals.

Trading in the top three equities, namely UACN-Property Development Company Plc, Zenith Bank Plc and LASACO Assurance Plc (measured by volume), accounted for 1.23 billion shares worth N3.24bn in 2,148 deals.

The three equities contributed 55.61 per cent and 29.60 per cent to the total equity turnover volume and value respectively.

Forty-one equities appreciated in price during the week, compared with 29 in the previous week; 19 equities depreciated in price, compared with 36 in the previous week, while 103 equities remained unchanged, compared with 98 in the previous week.

A total of 126,119 units valued at N655.92m were traded last week in 36 deals, compared with a total of 107,424 units valued at N520.31m transacted the previous week in 18 deals.