Bulls hold sway on Nigerian stock market

Trading activity on the floor of the Nigerian Stock Exchange further advanced on Friday to close the week’s session on a bullish note.

The All-Share Index rose by 0.17 per cent to close at 38,866.39 basis points, and market capitalisation also upped by 0.17 per cent to close at N20.34trn.

Investors gained N34.82bn, as the market recorded it’s third consecutive gains for the week.

While the year-to-date loss of the ASI lowered to -3.48 per cent, the market recorded 14 gainers and losers apiece.

Large capitalised stocks such as MTN Nigeria Communications, Guaranty Trust Bank, and Zenith Bank won investors’ patronage as their share prices rose by 1.17 per cent, 0.52 per cent and 0.69 per cent respectively.

Two out of the five sectored indices tracked closed in the green, the banking and insurance indices which increased by 0.41 per cent and 0.15 per cent respectively.

While the consumer goods and oil and gas indices fell by 0.15 per cent and 0.33 per cent respectively, the industrial index closed flat as of previous day.

Trading activity was mixed, as total deals and value of stocks traded declined, total volume of stocks traded advanced.

At the close of the day’s trading, the total volume of traded stocks rose by 10.54 per cent to 160.64 million units valued at N1.28bn in 3,507 deals.

Meanwhile, a total turnover of 887.037 million shares worth N9.19bn in 17,837 deals were traded in the week by investors in contrast to a total of 1.445 billion shares valued at N19.04bn that exchanged hands last week in 17,400 deals.

The financial services industry, measured by volume, led the activity chart with 607.224 million shares valued at N6.07bn traded in 10,125 deals, contributing 68.46 per cent and 65.99 per cent to the total stocks turnover volume and value respectively.

While the conglomerates industry followed with 112.318 million shares worth N572.83m in 1,450 deals, the oil and gas industry recorded a turnover of 57.662 million shares worth N201.45m in 1,107 deals.

Trading in the top three stocks of Zenith, Access and Guaranty, measured by volume, accounted for 259.248 million shares worth N4.82bn in 4,970 deals, which contributed 29.23 per cent and 52.41 per cent to the total stocks turnover volume and value respectively.

Ehime Alex
Ehime Alex
Ehime Alex reports the Capital Market, Energy, and ICT. He is a skilled webmaster and digital media enthusiast.

Get in Touch


Please enter your comment!
Please enter your name here

Related Articles