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NSE Index Adds 7.46% in One Week as 57 Stocks Grow, 13 Fall

By Dipo Olowookere

Trading activities on the floor of the Nigerian Stock Exchange (NSE) closed positive this week with the major market indices pointing north.

The NSE All-Share Index (ASI) and Market Capitalization appreciated by 7.46 percent to close the week at 28,192.46 and N9.746 trillion respectively.

Similarly, all other Indices finished higher during the week with the exception the NSE ASeM Index that closed flat.

Furthermore, the market breadth closed positive during the week with 57 equities appreciating in price, higher than 43 equities of the previous week, while 13 equities depreciated in price, lower than 16 equities of the previous week, and 103 equities remained unchanged lower than 114 equities recorded in the preceding week.

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On the activity chart, a total turnover of 3.255 billion shares worth N28.738 billion in 25,370 deals were traded this week by investors on the floor of the NSE in contrast to a total of 1.154 billion shares valued at N10.439 billion that exchanged hands last week in 16,676 deals.

Business Post reports that the Financial Services Industry (measured by volume) led the activity chart with 2.716 billion shares valued at N17.230 billion traded in 15,103 deals; thus contributing 83.42 percent and 59.96 percent to the total equity turnover volume and value respectively.

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The Consumer Goods Industry followed with 185.750 million shares worth N6.596 billion in 3,817 deals, while the third spot was filled by Conglomerates Industry with a turnover of 156.010 million shares worth N385.427 million in 1,340 deals.

Trading in the Top Three Equities namely; FBN Holdings Plc, FCMB Group Plc and Zenith International Bank Plc and (measured by volume) accounted for 1.419 billion shares worth N8.185 billion in 5,117 deals, contributing 43.59 percent and 28.48 percent to the total equity turnover volume and value respectively.

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Also traded during the week were a total of 948 units of Exchange Traded Products (ETPs) valued at N16,591.16 executed in 14 deals compared with a total of 20 units valued at N110,000.00 transacted last week in 1 deal.

It was also gathered that a total of 5,201 units of Federal Government Bonds valued at N5.400 million were traded this week in 3 deals, compared with a total of 1,582 units valued at N1.608 million transacted last week in 10 deals.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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