Stock Investors Gained N12 Billion  Last Week

The Nigerian Stock Exchange managed to close in the green last week despite the series of negative economic reports released in August.

Investors exchanged a total of 950.414 million shares valued at N10.123 billion in 16,646 transactions last week, lower than the 1.327 billion shares worth N13.934 billion traded in 19,392 deals in the previous week.

The market capitalisation of listed equities expanded by 0.09 percent or N12 billion from N13.146 trillion it closed in the previous week to settle at N13.158 trillion.

While the NSE All-Share Index gained 0.09 percent or 22.03 basis points from 25,199.84 bps it closed in the previous week to settle at 25,221.87 bps.

The sectoral analysis showed the financial services sector led activity with 624.278 million shares worth N6.181 billion exchanged in 8,313 transactions. Therefore, the sector contributed 65.68 percent and 61.06 percent of the total equity turnover volume and value, respectively.

The consumer goods industry followed with 96.320 million shares valued at N2.199 billion but traded in 3,148 transactions. The conglomerates sector came third with a turnover of 89.376 million shares valued at N145.612 million shares in 757 deals.

In terms of volume traded, Zenith Bank Plc, Guaranty Trust Bank Plc and Transnational Corporation of Nigeria Plc led with a combined 298.901 million shares worth N4.761 billion in 3,056 deals. The three accounted for 31.45 percent and 47.03 percent of the total equity turnover volume and value, respectively.

The Exchange has gained 2.14 percent in August and 3.03 percent in the third quarter despite the high unemployment rate and escalating inflation rate. Indicating that local investors are still very much into one of the world’s most feared stock exchange. The bourse year-to-date return stood at -6.04 percent last week.