Unity Bank, Julius Berger, Vitafoam, Others Boost Nigerian Stock Market Last Week

The Nigerian Stock Exchange (NSE) closed in the green for the first time in weeks as the economic activities continue to expand.

Investors traded a total of 1.350 billion shares valued at N14.433 billion in 16,723 transactions during the week, up from the 1.016 billion shares worth N7.436 billion exchanged in 18,092 deals in the previous week.

The sectoral analysis showed that the financial services sector led by volume with 847.677 million shares valued at N5.649 billion and traded in 9,068 transactions during the week. Therefore, the sector contributed 62.77 percent and 39.14 percent to the total equity turnover volume and value traded respectively.

The conglomerates’ sector came second with 176.425 million shares worth N821.337 million in 400 deals. While the consumer goods industry came third with 158.022 million shares valued at N3.768 billion and traded in 2,563 transactions.

In terms of the top three most traded stocks, FBN Holdings Plc, UACN Plc and United Bank for Africa Plc during the week, accounting for a combined 434.502 million shares valued at N2.408 billion in 2,270 transactions.

The NSE All-Share Index appreciated by 0.58 percent or 140.07 basis points from 24,287.66 bps it closed in the previous week to 24,427.73 bps last week. While the market capitalisation of listed equities also expanded by 0.58 percent or N73 billion to N12.743 trillion, up from N12.670 trillion in the previous week.

The year-to-date decline moderated to 8.99 percent while the Exchange has lost 0.21 percent in the month of July and the same percent in the third quarter.