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Nigerian Stock Exchange Weekly News: Stock Investors Gain N747 Billion Last Week

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Nigerian Stock Exchange Gained N747 Billion Last Week to Close at N14.852 Trillion

Stock investors made N747 billion last week as Nigerian Stock Exchange market capitalisation rose above N15 trillion before pulling back to N14.852 trillion on Friday.

Investors traded 3.140 billion shares worth N35.372 billion in 35,099 deals during the week, against a total of 1.532 billion shares valued at N16.901 billion that were traded in 17,882 deals in the previous week.

In terms of volume traded, the financial services sector led with 2.325 billion shares worth N25.816 billion that exchanged hands in 21,306 transactions. The sector contributed 74.05 percent and 72.99 percent to the total equity turnover volume and value, respectively.

The oil and gas sector came second with 200.567 million shares valued at N1.012 billion in 1,977 transactions. Industrial goods sector came third with a turnover of 149.200 million shares valued at N3.631 billion in 2,991 deals.

The top three most traded equities during the week were Zenith Bank Plc, FBN Holdings Plc and United Bank for Africa Plc. The three accounted for a combined 1.236 billion shares worth N15.724 billion exchanged in 9,774 deals and contributed 39.36 percent and 44.45 percent to the total equity turnover volume and value, respectively.

The Nigerian Stock Exchange Market Capitalisation rose by N747 billion or 5.30 percent from N14.105 trillion recorded in the previous week to N14.852 trillion last week, while the Nigerian Stock Exchange Index gained 1,429.54 basis points or 5.30 percent from 26,985.77 bps achieved in the previous week to 28,415.31 bps last week.

Nigerian Stock Exchange year-to-date gain stood at 5.86 percent and 5.90 percent in October and this ongoing quarter.

Top Gainers and Losers in the Nigerian Stock Market

Below are top ten gainers and losers on the Nigerian Stock Exchange last week.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.