Bulls on the rampage as equities gain N648bn
Investors on the Nigerian Stock Exchange (NSE) recorded huge gains this week as equities added N648 billion to its opening value as the All-Share Index and Market Capitalization appreciated by 6.59 per cent and 6.58 per cent to close the week at 28,902.25 and N9.926 trillion respectively.
A turnover of 2.338 billion shares worth N14.789 billion in 24,942 deals were exchanged this week by investors in contrast to a total of 2.446 billion shares valued at N13.145 billion that exchanged hands last week in 23,680 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.874 billion shares valued at N10.549 billion traded in 15,232 deals; thus contributing 80.16 per cent and 71.33 per cent to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 225.806 million shares worth N351.338 million in 1,462 deals. The third place was occupied by the Consumer Goods industry with a turnover of 64.001 million shares worth N1.430 billion in 3,444 deals.
Trading in the top-three equities namely – FBN Holdings Plc, United Bank For Africa Plc and Transnational Corporation of Nigeria Plc.(measured by volume) accounted for 810.444 million shares worth N2.904 billion in 5,128 deals, contributing 34.67 per cent and 19.64 per cent to the total equity turnover volume and value respectively.
Also traded during the week were a total of 537,969 units of Exchange Traded Products (ETPs) valued at N56.655 million executed in 43 deals, compared with a total of 307,411 units valued at N21.406 million transacted last week in 38 deals.
A total of 4,000 units of Federal Government Bonds valued at N4.438 million were traded in 8 deals compared to a total of 4,143 units of Federal Government valued at N4.248 million transacted last week in 8 deals.
Similarly, all other Indices finished higher during the week, 56 equities appreciated in price during the week, higher than 35 equities of the previous week even as 20 equities depreciated in price, lower than the 37 equities of the previous week, while 104 equities remained unchanged lower than 109 of the previous week.
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