Nigerian Stocks Sustain Positive Momentum, Gains 2.28% WoW

By InvestAdvocate

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Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) all-share index (ASI) and market capitalisation appreciated by 2.28 percent to close the week at 34,020.37 and N11.725 trillion respectively.

“Similarly, all other Indices finished higher during the week with the exception of the NSE Insurance Index that depreciated by 2.81% while the NSE ASeM index closed flat,” according to the NSE’s weekly stock market report.

The report says at the close of the week’s trading on the Nigerian bourse, a total turnover of 3.628 billion shares worth N34.886 billion in 19,834 deals were traded by investors compared to a total of 1.272 billion shares valued at N13.993 billion that exchanged hands last week in 19,385 deals.

It reported the Financial Services Industry measured by volume led the activity chart with 3.393 billion shares valued at N28.711 billion traded in 11,237 deals; thus contributing 93.55 percent and 82.30 percent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 79.473 million shares worth N3.418 billion in 3,101 deals. The third place was occupied by Conglomerates Industry with a turnover of 70.175 million shares worth N113.486 million in 872 deals.

According to the NSE,  trading in the Top Three Equities namely – United Bank for Africa Plc, Continental Reinsurance Plc and Niger Insurance Plc measured by volume accounted for 2.515 billion shares worth N20.825 billion in 1,191 deals, contributing 69.33 percent and 59.69 percent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 40 units of Exchange Traded Products (ETPs) valued at N493.60 executed in 4 deals compared with a total of 25,540 units valued at N2.646 million transacted last week in 10 deals.

A total of  13,465 units of  Federal Government Bonds valued at N14.486 million were traded this week in 10 deals, compared with a total of 2,977 units valued at N2.946 million transacted last week in 11 deals.

A summary of price changes in the review week shows that 36 equities appreciated in price during the week, higher than 48 the past week. On the flip side, 33 equities depreciated in price, lower than 27 of the previous week, while 102 equities remained unchanged higher than 97 recorded in the preceding week.