Nigerian Stock Exchange Sustained Bullish Run Last Week

The Nigerian Stock Exchange sustained its bullish run to close in the green last week as investors remained positive across the board.

Investors traded 1.675 billion shares valued at N25.425 billion in 23,650 transactions during the week that ended November 4, 2020. This was against a total of 1.816 billion shares worth N25.791 billion that were exchanged in 31,664 deals in the previous week.

In terms of volume traded, the financial services industry led the activity table with 1.206 billion shares estimated at N12.063 billion but traded in 13,534 transactions. The industry contributed 72 percent and 47.45 percent to the total equity turnover volume and value, respectively.

This was followed by the consumer goods industry with 102.368 million shares worth N3.616 billion in 3,511 deals.

In third place was the natural resources industry with a total turnover of 86.626 million shares valued at N17.492 million but traded in 28 deals.

The top three most traded equities during the week were Access Bank Plc, FBN Holding Plc and Zenith Bank Plc. The three accounted for 475.819 million shares worth N6.144 billion in 4,900 deals and contributed 28.41 percent and 24.16 percent to the total equity turnover volume and value, respectively.

The Nigerian Stock Exchange market capitalisation gained 0.75 percent to close at N18.365 trillion during the week. While the NSE All-Share Index gained 0.72 percent or 252.48 index points from 34,885.51 index points to 35,137.99 index points.

The bourse total gains this year rose to 30.91 percent last week with 15.09 percent of the total gains coming from the final quarter. Making it the best performer among the 93 global stocks tracked by Bloomberg.