Nigerian bourse dares COVID-19 as Index up 7.19% for the week

The Nigerian Stock Exchange (NSE) All-Share Index and Market Capitalization both appreciated by 7.19 per cent to close the week at 22,921.59 and N11.946 trillion respectively. All other indices finished higher with the exception of NSE ASeM which closed flat.

A total of 37 equities appreciated in price during the week, higher than 35 in the previous week while 21 equities depreciated in price, higher than 18 in the previous week as 105 equities remained unchanged, lower than 110 equities recorded in the preceding week.

A total turnover of 1.495 billion shares worth N12.894 billion in 20,982 deals were traded last  week by investors on the floor of the Exchange  in contrast to a total of 2.440 billion shares valued at N19.932 billion that exchanged hands the upper week in 18,918 deals.

The market had four-day trading week as the Federal Government of Nigeria declared Monday 13th April 2020 (Easter Monday) as public holiday in commemoration of the Easter celebrations.

The Financial Services industry (measured by volume) led the activity chart with 1.238 billion shares valued at N8.424 billion traded in 12,835 deals; thus contributing 82.82 per cent and 65.33 per cent to the total equity turnover volume and value respectively.

The Healthcare Industry sector followed with 72.953 million shares worth N386.138 million in 465 deals. The third place was the Consumer Goods industry, with a turnover of 48.567 million shares worth N1.904 billion in 2,611 deals.

Trading in the top-three equities namely, Omoluabi Mortgage Bank Plc, FBN Holdings Plc and Zenith Bank Plc. (measured by volume) accounted for 755.096 million shares worth N4.584 billion in 5,758 deals, contributing 50.50 per cent and 35.56 per cent to the total equity turnover volume and value respectively.

A total of 52,216 units valued at N103.109 million were traded in the week in 15 deals, compared with a total of 3.027 million valued at N13.034 million transacted last week in 23 deals.