Nigerian bourse closes the week strong as Index up 3.94%

Trading activities on the Nigerian Stock Exchange (NSE) closed positive last week as the All-Share Index and Market Capitalization appreciated by 3.94 per cent to close the week at 31,005.17 and N11.562 trillion respectively.

Similarly, all other indices finished higher with the exception of the NSE Banking Index that depreciated by 1.04 per cent while the NSE ASeM index closed flat.

Thirty-eight (38) equities appreciated in price during the week, higher than twenty-two (22) in the previous week. Twenty-nine (29) equities depreciated in price, lower than forty-four (44) of the  previous week, while one hundred and two (102) equities remained unchanged lower than one hundred and three (103) equities recorded in the preceding week.

A total turnover of 1.270 billion shares worth N13.463 billion in 16,476 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.265 billion shares valued at N14.074 billion that exchanged hands last week in 19,278 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.131 billion shares valued at N10.573 billion traded in 10,352 deals; thus contributing 89.06% and 78.54% to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 37.744 million shares worth N1.628 billion in 2,054 deals. The third place was Conglomerates Industry with a turnover of 37.699 million shares worth N102.918 million in 566 deals.

Trading in the top-three equities namely, Diamond Bank Plc, Guaranty Trust Bank Plc and Zenith Bank Plc (measured by volume) accounted for 696.955 million shares worth N8.509 billion in 3,753 deals, contributing 54.86 per cent and 63.20 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 55 units of Exchange Traded Products (ETPs) valued at N5,610.00 executed in 2 deals compared with a total of 15,288 units valued at N236,445.40 that was transacted last week in 4 deals.

A total of 3,573 units of Federal Government Bonds valued at N3.764 million were traded this week in 24 deals compared with a total of 17,996 units valued at N18.426 million transacted last week in 10 deals