Nigerian Equity Market Gains N1.83tn in One Week
The Nigerian equity market experienced a strong performance last week, adding N1.83tn as the All-Share Index and Market Capitalisation rose by two per cent and 2.78 per cent, closing at 108,053.95 points and N67.418tn, respectively. Investors traded 2.414 billion shares worth N55.512bn in 80,988 deals, a decline from the previous week’s 3.051 billion shares valued at N98.350bn in 72,535 deals.
The Financial Services Industry dominated market activity, with 1.398 billion shares worth N24.039bn traded in 31,919 deals, contributing 57.92 per cent and 43.30 per cent to the total equity turnover volume and value. The Services Industry followed with 247.303 million shares worth N1.165bn in 6,277 deals, while the Consumer Goods Industry recorded 153.776 million shares valued at N3.939bn in 8,405 deals.
Sterling Financial Holdings Company Plc, Access Holdings Plc, and Secure Electronic Technology Plc were the most traded stocks, accounting for 455.469 million shares worth N5.273bn in 6,654 deals, representing 18.87 per cent of total equity turnover volume and 9.50 per cent of total value. A total of 48,850 units worth N19.310m were traded in 95 deals, compared to 53,950 units valued at N5.104m in 58 deals the previous week. Meanwhile, 77,290 units worth N70.809m were exchanged in 47 deals, an increase from 37,219 units valued at N28.751m in 42 deals a week earlier.
Market sentiment improved as 65 equities appreciated, up from 58 in the previous week, while 31 equities declined, compared to 34 the week before. Meanwhile, 54 equities remained unchanged, slightly lower than the 58 recorded previously. The Nigerian equity market continued its bullish trend, following a previous gain of N884bn when the All-Share Index rose by 1.38 per cent to 105,933.03 points.
