In One Week, Stock Market Investors Gain N840bn

Investors in the Nigerian stock market saw the worth of their shares rise by N840bn last week as 47 firms recorded price appreciation.

The All-Share Index of the Nigerian Exchange Limited and market capitalisation increased by 3.38 per cent to close the week at 45,957.35 and N24.76tn respectively.

All other indices finished higher, with the exception of NGX insurance index, which depreciated by 0.27 per cent, while the NGX ASem, and NGX Sovereign bond indices closed flat.

A total turnover of 1.86 billion shares worth N47.49bn in 20,861 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 1.60 billion shares valued at N32.72bn that exchanged hands last week in 22,607 deals.

The financial service industry (measured by volume) led the activity chart with 815.36 million shares valued at N7.07bn traded in 10,736 deals, thus contributing 43.89 per cent and 14.88 per cent to the total equity turnover volume and value respectively.

The ICT Industry followed with 596.58 million shares worth N845.02m in 1,028 deals, while the third place was occupied by the conglomerates industry, with a turnover of 161.35 million shares worth N191.19m in 983 deals.

Trading in the top three equities, namely Computer Warehouse Group Plc, Transnational Corporation of Nigeria Plc, FBN Holdings Plc (measured by volume), accounted for 810.75 million shares worth N2.08bn in 1,499 deals, contributing 43.65 per cent and 4.38 per cent to the total equity turnover volume and value respectively.

Forty-seven equities appreciated in price during the week as against 33 in the previous week; 23 equities depreciated as against 35 in the previous week, while 86 equities remained unchanged as against 88 in the previous week.