Nigerian bourse closes the week strong, up 1.78%

The All-Share Index and Market Capitalization on the Nigerian Stock Exchange (NSE) appreciated by 1.78 per cent to close the week at 30,086.31 and N11.301 trillion respectively.

Similarly, all other indices finished higher with the exception of the NSE Oil/Gas Index that depreciated by 2.12 per cent.

The market opened for four trading days as the Federal Government of Nigeria declared Friday 19th April 2019 (Good Friday) and Monday 22nd April 2019 (Easter Monday) public holidays to mark the end of the End of the Lenten season and Easter celebrations.

In the four-day trading week, a turnover of 988.692 million shares worth N11.432 billion in 13,596 deals were traded by investors on the floor of the Exchange in contrast to a total of 1.770 billion shares valued at N15.264 billion that exchanged hands upper week in 17,015 deals.

The Financial Services Industry (measured by volume) led the activity chart with 766.191 million shares valued at N7.261 billion traded in 7,820 deals; thus contributing 77.50 per cent and 63.51 per cent to the total equity turnover volume and value respectively.

The ICT Industry followed with 74.769 million shares worth N24.600 million in 212 deals. The third place was Consumer Goods Industry with  turnover of 48.022 million shares worth N3.095 billion in 2,374 deals.

Trading in the top-three equities namely, Union Bank of Nigeria Plc, Access Bank Plc and Guaranty Trust Bank Plc (measured by volume) accounted for 355.043 million shares worth N4.845 billion in 2,133 deals, contributing 35.91 per cent and 42.38 per cent to the total equity turnover volume and value respectively.

In all, 33 equities appreciated in price during the week, lower than thirty-five (35) in the previous week. 33 equities depreciated in price, higher 31 of the previous week, while 101 equities remained unchanged, the same with101 equities recorded in the preceding week.