Home Business Nigerian stock market retains weekly gain with N194bn

Nigerian stock market retains weekly gain with N194bn


The bullish trend of the Nigerian stock market was further strengthened with positive rally on equities last weekly, leading to a weekly gain of N194 billion for investors.

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This, according to data obtained from the Nigerian Stock Exchange (NSE), was responsible for 1.53 per cent growth in the value of market capitalisation which closed at N12.899 trillion.


The development also led to 1.52 per cent appreciation of the All-Share Index (ASI) gaining 568.44 points to close at 37,425.15 basis points.


Similarly, all other Indices finished higher during the week with the exception of the NSE Banking and the NSE Oil/Gas Index that depreciated by 1.64 per cent and 3.05 per cent respectively while the NSE ASeM Index closed flat.


 A total turnover of 2.518 billion shares worth N114.117 billion in 23,546 deals were traded during the week by investors on the floor of the Exchange in contrast to a total of 2.211 billion shares valued at N30.636 billion that exchanged hands last week in 26,287 deals.


The Financial Services Industry (measured by volume) led the activity chart with 1.507 billion shares valued at N16.354 billion traded in 12,511 deals; thus contributing 59.85 per cent and 14.33 per cent to the total equity turnover volume and value respectively.


The Industrial Goods Industry followed with 441.914 million shares worth N89.356 million in 1,282 deals, while the third place was occupied by Conglomerates Industry with a turnover of 184.608 million shares valued at N701.665 million in 929 deals.


Trading in the Top Three Equities namely – Dangote Cement Plc, Access Bank Plc and Zenith International Bank Plc. (measured by volume) accounted for 833.966 million shares worth N95.969 billion in 3,203 deals, contributing 33.12 per cent and 84.10 per cent to the total equity turnover volume and value respectively.


Also traded during the week were a total of 1.166 million units of Exchange Traded Products (ETPs) valued at N16.169 million executed in 17 deals compared with a total of 1.732 million units valued at N13.711 million transacted the previous week in 19 deals.


A total of 5,850 units of Federal Government Bonds valued at N5.702 million were traded in seven deals, compared with a total of 750 units valued at N695,229.29 that exchanged hands in eight trades the previous week.


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