Investors Record N260bn Weekly Gain As 32 Stocks Rise

Investors in the Nigerian stock market gained N260bn as 32 firms saw their share prices rise at the end of trading last week.

The Nigerian Exchange Limited All-Share Index and market capitalisation appreciated by 1.12 per cent and 1.16 per cent to close the week at 42,353.31 and N22.11tn respectively.

All other indices finished higher, with the exception of NGX Main Board, NGX Banking, NGX AFR Bank Value, NGX AFR Div Yield, NGX MERI Growth and NGX Oil/Gas indices, which depreciated by 0.22 per cent, 1.82 per cent, 2.23 per cent, 0.08 per cent, 0.85 per cent and 0.57 per cent respectively. The NGX ASeM, NGX Growth and NGX Sovereign Bond Indices closed flat.

A total turnover of 1.32 billion shares worth N15.33bn in 18,292 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 2.63 billion shares valued at N26.90bn that exchanged hands in 20,848 deals the previous week.

The financial services industry (measured by volume) led the activity chart with 899.77 million shares valued at N7.33bn traded in 9,326 deals, thus contributing 68.32 per cent and 47.78 per cent to the total equity turnover volume and value respectively.

The consumer goods industry followed with 209.50 million shares worth N2.79bn in 2,866 deals, while the third place was occupied by the conglomerates industry, with a turnover of 93.813 million shares worth N663.14m in 485 deals.

Trading in the top three equities, namely FBN Holdings Plc, International Breweries Plc and Access Bank Plc (measured by volume), accounted for 469.879 million shares worth N4.17bn in 1,958 deals, contributing 35.68 per cent and 27.20 per cent to the total equity turnover volume and value respectively.

Thirty-two equities gained last week, as against 35 in the previous week; 28 equities depreciated as against 27 in the previous week, while 96 equities remained unchanged as against 94 in the previous week.