Nigeria’s equities market gains N1.33tn to close week

Nigeria’s market capitalisation appreciated by 7.5 per cent to close the week activities at N19.236tn.

The market capitalisation which opened the week trading at N17.90tn, closed at N19.24 to gain N1.33tn.

As a result, the Nigerian Stock Exchange All-Share Index appreciated by 7.5 per cent to close at 36,804.75.

According to the weekly market report of the NSE, 53 equities appreciated in price during the week, higher than 13 equities in the previous week.

Conversely, 17 equities depreciated in price, lower than 46, while 91 remained unchanged, lower than 102 recorded in the previous week.

It showed that week-on-week a total turnover of 1.893bn shares worth N17.647bn in 20,660 deals were traded, in contrast to a total of 2.265bn shares valued at N20.990bn in 23,722 deals that exchanged hands in the previous week.

The financial services industry, measured by volume, led the activity chart with 1.489bn shares valued at N8.385bn traded in 10,834 deals.

The sector contributed 78.65 per cent and 47.52 per cent to the total equity turnover volume and value, respectively in the review week.

While the consumer goods industry was next with 106.986m shares worth N2.360bn in 3,447 deals, the services industry followed with a turnover of 74.754m shares worth N191.833m in 448 deals.

The report showed that Jaiz Bank Plc, FBN Holdings Plc, and Niger Insurance Plc topped trading activities for the week.

Measured by volume, the top three traded equities accounted for 761.866m shares worth N1.468bn in 1,395 deals and contributed 40.25 per cent and 8.32 per cent to the total equity turnover volume and value in that order.

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

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