Market closes the week strong, gaining N138bn, 1.5% up

A turnover of 1.375 billion shares worth N12.940 billion in 16,915 deals were traded this week by investors on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of 1.361 billion shares valued at N10.711 billion that exchanged hands last week in 16,070 deals.

The NSE All-Share Index and Market Capitalization appreciated by 1.48 per cent to close the week at 27,650.32 and N9.496 trillion respectively from 27,246.88 and N9.358 trillion with which they opened the week, making investors to gain a total of N138 billion

Similarly, all other Indices finished higher during the week, with the exception of the NSE Insurance and NSE Oil and Gas Indices that shed 1.19 per cent and 3.44 per cent respectively while the NSE ASeM Index closed flat.

A total of 25 equities appreciated in price during the week, higher than 18 of the previous week; 39 equities depreciated in price, higher than 38 of the previous week, while 116 equities remained unchanged lower than 124 equities recorded in the preceding week.

The Financial Services Industry (measured by volume) led the activity chart with 1.195 billion shares valued at N8.631 billion traded in 10,365 deals; thus contributing 86.90 per cent and 66.70 per cent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 76.489 million shares worth N154.736 million in 964 deals. The third place was occupied by the Consumer Goods Industry with a turnover of 38.048 million shares worth N1.768 billion in 2,676 deals.

Trading in the top-three equities namely – United Bank for Africa Plc, Access Bank Plc and FBN Holdings Plc (measured by volume) accounted for 559.065 million shares worth N2.452 billion in 3,690  deals, contributing 40.66 per cent and 18.95 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 57,828 units of Exchange Traded Products (ETPs) valued at N766,162.96 executed in 37 deals, compared with a total of 1,003 million units valued at N12.116 million transacted last week in 43 deals.

A total of 3,127 units of Federal Government Bonds valued at N3.057 million were traded in 6 deals compared to a total of 4,044 units of Federal Government Bonds valued at N4.062 million transacted last week in 6 deals.