Stocks Record 5.3% Weekly Increase, Investors Gain N740bn
The nation’s stock market recorded an increase of 5.3 per cent last week, with investors gaining N740bn.
The Nigerian Stock Exchange All-Share Index and market capitalisation both appreciated by 5.30 per cent to close the week at 28,415.31 and N14.85tn respectively.
All other indices finished higher with the exception of NSE ASeM Index which closed flat.
A total turnover of 3.14 billion shares worth N35.37bn in 35,099 deals were traded last week by investors on the floor of the Exchange, compared with a total of 1.53 billion shares valued at N16.90bn that exchanged hands the previous week in 17,882 deals.
The financial services industry (measured by volume) led the activity chart with 2.32 billion shares valued at N25.82bn traded in 21,306 deals, thus contributing 74.05 per cent and 72.99 per cent to the total equity turnover volume and value respectively.
The oil and gas industry followed with 200.57 million shares worth N1.01bn in 1,977 deals while the third place was occupied by the industrial goods industry, with a turnover of 149.20 million shares worth N3.63bn in 2,991 deals.
Trading in the top three equities, namely Zenith Bank Plc, FBN Holdings Plc and United Bank for Africa Plc (measured by volume), accounted for 1.24 billion shares worth N15.72bn in 9,774 deals, contributing 39.36 per cent and 44.45 per cent to the total equity turnover volume and value respectively.
The NSE said 53 equities appreciated in price during the week, compared with 36 in the previous week; 14 equities depreciated in price, compared with 15 in the previous week, while 96 equities remained unchanged, compared with 112 in the previous week.
A total of 1.05 million units valued at N4.847bn were traded last week in 33 deals compared with a total of 192,781 units valued at N1.59bn transacted the previous week in 24 deals
A total of 79,691 units valued at N108.24m were traded last week in 23 deals, compared with a total of 103,480 units valued at N123.51m transacted the previous week in 24 deals.