CAPITAL MARKETTOP STORY

Stock market closes the week strong, gaining 2.55%

The NSE All-Share Index and Market Capitalization appreciated by 2.55 to close the week at 25,701.60 and N8.841 trillion respectively. Similarly, all other Indices finished higher during the week, with the exception of the NSE Insurance Index, that declined by 0.78 per cent.
The market witnessed four days of trading transaction as the Federal Government of Nigeria declared Monday 2nd May, 2016 as Public Holiday to mark the 2016 Workers’ Day Celebration.
The four-day trading recorded a turnover of 910.659 million shares worth N6.409 billion in 15,023 deals in contrast to a total of 1.210 billion shares valued at N7.115 billion that exchanged hands last week in 15,973 deals.
The Financial Services Industry (measured by volume) led the activity chart with 757.354 million shares valued at N3.180 billion traded in 8,853 deals; thus contributing 83.17 per cent and 49.62 per cent to the total equity turnover volume and value respectively.
The Consumer Goods Industry followed with 46.972 million shares worth N2.263 billion in 2,636 deals. The third place was occupied by the Conglomerates Industry with a turnover of 40.009 million shares worth N69.233 million in 498 deals.
Trading in the Top Three Equities namely – FBN Holdings Plc, United Bank For Africa Plc and Fidelity Bank Plc.(measured by volume) accounted for 359.455 million shares worth N1.086 billion in 2,797 deals, contributing 39.47 per cent and 16.94 per cent to the total equity turnover volume and value respectively.

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