Stock Markets Gain N45bn as FG Announces Resumption of International Flights

Stock investors gained N45 billion last week following the federal government announcement that it will reopen the nation’s airspace for international flight operations on September 5th, 2020.

Investors traded 1.072 billion shares worth N7.384 billion in 16,684 transactions during the week, against a total of 950.414 million shares valued at N10.123 billion exchanged in 16,647 deals in the previous week.

In terms of volume traded, the financial sector led with 587.761 million shares worth N4.022 billion traded in 8,483 transactions. The sector contributed 54.76 percent and 54.47 percent to the total equity turnover volume and value, respectively.

The conglomerates sector came second with 307.744 million shares valued at N799.159 million in 1,010 deals. This was followed by the consumer goods sector with a turnover of 50.170 million shares worth N968.272 million exchanged in 3,018 transactions.

The top three most traded equities during the week were Transnational Corporation of Nigeria Plc, UACN Plc and United Bank for Africa Plc. The three accounted for a combined 396.337 million shares valued at N1.373 billion in 1,845 deals. The three accounted for 36.99 percent and 18.59 percent of the total equity turnover volume and value, respectively.

The market capitalisation of listed equities gained N45 billion or 0.35 percent to settle at N13.203 trillion, up from N13.158 trillion recorded a week ago.

While the NSE-All Share Index gained 0.35 percent or 87.50 basis points from 25,221.87 bps posted in the previous week to 25,309.37 bps last week.

On a quarterly basis, the Nigerian Stock Exchange has gained 3.39 percent in the third quarter so far, while it has recorded 2.49 percent appreciation in the month of August.

However, the year-to-date decline stood at -5.71 percent.

    Top Gainers