Nigerian Stock Exchange Appreciates Slightly Last Week

• Nigerian Stock Exchange Appreciates Slightly Last Week

The Nigerian Stock Exchange (NSE) appreciated last week for the first time in weeks as more shares were traded during the week.

The NSE-All Share Index gained 0.08 percent or 21.19 basis points from 26,293.30 recorded in the previous week to 26,314.49 last week.

While the market capitalisation of listed equities rose by N11 billion to N12.810 trillion, up from N12.799 trillion it closed in the previous week.

However, on a monthly basis, the bourse declined by 0.16 percent and 4.76 percent on a quarterly basis to take its year-to-date decline to 16.28 percent.

Activity level rose during the week as 2.063 billion shares valued at N18.431 billion were exchanged in 16,778 transactions, against the 1.511 billion shares worth N16.193 billion traded in 15,544 deals.

In terms of volume traded, the financial services industry led with 1.833 billion shares valued at N12.367 billion exchanged in 11,116 deals.

The industrial goods followed with a turnover of 102.535 million shares worth N2.236 billion and transacted in 1,148 deals.

In the third place was Consumer with 46.061 million shares worth N1.676 billion in 1,965 deals.

Jaiz Bank Plc, Access Bank Plc and Zenith Bank Plc led the most traded equities by volume. The three equities accounted for 1.118 billion shares valued at N8.018 billion in 4,492 deals.

Still, the business confidence remained weak across the Nigerian Stock Exchange market as companies are still wary of economic policies.