Nigerian Stock Investors Gained N552 Billion Last Week

Investors in the Nigerian Stock Exchange (NSE) gained N552 billion last week despite a negative first week of the year.

Investors exchanged 3.447 billion shares worth N32.725 billion in 30,327 deals during the week, against a total of 3.394 billion shares valued at N19.867 billion that exchanged hands in 26,808 transactions in the previous week.

In terms of volume traded, the Financial Services Industry led the activity chart with 1.714 billion shares valued at N13.352 billion exchanged in 15,102 deals and contributed 49.74 percent and 40.80 percent to the total equity turnover volume and value, respectively.

The Construction/Real Estate Industry followed with 768.131 million shares worth N4.203 billion in 430 deals. Conglomerates Industry came third with a turnover of 279.799 million shares estimated at N578.694 million in 1,199 deals.

The three most traded equities during the week were UPDC Real Estate Investment Trust, Mutual Benefits Assurance Plc and Transnational Corporation of Nigeria Plc. Together, the three accounted for 1.224 billion shares worth N4.459 billion in 929 deals and accounted for 35.52 percent and 13.63 percent to the total equity turnover volume and value, respectively.

The NSE All-Share Index gained 2.63 percent or 1,055.92 index points from 40,120.22 index points posted in the previous week to 41,176.14 index points.

While the market value of listed stocks expanded by the same 2.63 percent or N552 billion from N20.978 trillion recorded a week earlier to N21.530 trillion last week.

The Nigerian Stock Exchange has gained 2.25 percent in 2021 so far.