Nigerian Stock Exchange Appreciates by 2.39% Last Week

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  • Nigerian Stock Exchange Appreciates by 2.39% Last Week

The Nigerian Stock Exchange (NSE) closed higher last week following tribunal judgment that affirmed president Muhammadu Buhari presidency.

The market capitalisation of listed equities rose by 2.39 percent to close at N13.523 trillion while the NSE All-Share Index appreciated by 2.33 percent to 27,779 basis points.

Activity level was positive during the week as 1.146 billion shares valued at N14.082 billion were exchanged in 17,980 transactions by investors. Higher than the 1.101 billion shares worth N17.082 billion traded in 15,431 deals in the previous week.

In terms of volume, the financial services led the activity chart with 840.704 million shares worth N10.765 billion exchanged in 11,331 transactions.

Followed by the conglomerates industry with 111.231 million shares valued at N243.124 million in 963 deals. The ICT industry came third with a turnover of 95.087 million shares valued at N605.135 million in 404 deals.

Top traded stocks in terms of volume were Guaranty Trust Bank Plc, Access Bank Plc and FBN Holdings Plc which accounted for 484.003 million shares worth N8.306 billion in 4,265 deals, contributing 42.20 percent and 58.99 percent to the total equity turnover volume and value respectively.

Accordingly, almost all indices closed in the green during the week except NSE Insurance and NSE Industrial Goods Indices which declined by 2.13 percent and 0.41 percent while the NSE ASeM index closed flat.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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