Stock Investors Gain N219bn Last Week

• Stock Investors Gain N219bn Last Week

Nigerian stock investors gained N219 billion last week as the Nigerian Stock Exchange sustained bullish trend ahead of partial resumption on Monday.

President Muhammadu Buhari had eased lockdown restrictions to allow partial operations in certain sectors and gradually reopen commerce.

A total turnover of 1.012 billion shares valued at N9.892 billion were exchanged in 17,023 transactions during four trading days that the market was opened last week.

Activity on the exchange was low compared to previous when a total of 1.195 billion shares worth N13.979 billion were exchanged in 20,591 deals.

In terms of volume traded, the financial services sector led with 809.957 million shares valued at N5.66 billion and traded in 9,533 transactions. The industrial goods sector followed with 47.884 million shares worth N1.681 billion in 1,920 transactions.

Conglomerates industry came third with a turnover of 46.627 million shares valued at N86.349 million and traded in 550 deals.

FBN Holdings Plc, United Bank for Africa Plc and Access Bank Plc led the most traded stocks last week and accounted for a combined 414.588 million shares worth N2.290 billion in 3,189 deals.

The market capitalisation of listed equities rose by 1.87 percent or N219 billion from N11.778 trillion recorded in the previous week to N11.997 trillion last week. While the NSE All-Share Index also gained 1.87 percent or 8.08 basis points to settle at 23,021.01 basis points.