Nigerian stock market maintains bullish run, up 1.56% for the week

The Nigerian Stock Exchange (NSE) All-Share Index and Market Capitalization appreciated by 1.56 per cent and 1.59 per cent respectively to close the week at 31,016.17 and N16.207 trillion respectively.

Similarly, all other indices finished higher with the exception of the NSE-Main Board, NSE Insurance and NSE Oil/Gas which depreciated by 0.62 per cent, 1.32 per cent and 0.77 per cent respectively while the NSE ASeM Index that closed flat.

A total of 40 equities appreciated in price during the week, lower than 68 equities in the previous week even 24 equities depreciated in price, higher than 6 in the previous week, while 97 equities remained unchanged, higher than 94 recorded in the previous week.

A total turnover of 2.067 billion shares worth N22.636 billion in 25,187 deals were traded in the week by investors on the floor of the Exchange, in contrast to a total of 1.909 billion shares valued at N23.610 billion that exchanged hands last week in 23,578 deals.

The Financial Services industry (measured by volume) led the activity chart with 1.575 billion shares valued at N13.725 billion traded in 14,521 deals; thus contributing 76.21 per cent and 60.63 per cent to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 178.574 million shares worth N3.609 billion in 4,669 deals. The third place was the Conglomerate Industry, with a turnover of 102.697 million shares worth N155.195 million in 599 deals.

Trading in the top-three equities namely Access Bank Plc, FBN Holding Plc and Zenith Bank Plc (measured by volume) accounted for 686.338 million shares worth N7.599 billion in 4,557 deals, contributing 33.21 per cent and 33.57 per cent to the total equity turnover volume and value respectively.

A total of 238,441 units of ETPs valued at N2.054 billion were traded in the week in 8 deals compared with a total of 262,849 units valued at N2.160 billion transacted the other week in 52 deals.