Market advances further by 1.59% WoW

Transactions on the floor of the Nigerian equity market last week closed on a positive note as the All Share Index and Market Capitalization appreciated by 1.59% and 1.56% respectively to close the week at 31,016.17 and N16.207 trillion respectively.

An aggregate of 2.067 billion units of shares, valued at N22.636 billion in 25,187 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 1.909 billion shares valued at N23.610 billion that exchanged hands the previous week in 23,578 deals.

The Financial Services industry led the activity chart with 1.575 billion shares valued at N13.725 billion traded in 14,521 deals; thus contributing 76.21% and 60.63% to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 178.574 million shares worth N3.609 billion in 4,669 deals. The third place was the Conglomerate Industry, with a turnover of 102.697 million shares worth N155.195 million in 599 deals.

Trading in the top three equities namely Access Bank Plc, FBN Holding Plc and Zenith Bank Plc accounted for 686.338 million shares worth N7.599 billion in 4,557 deals, contributing 33.21% and 33.57% to the total equity turnover volume and value respectively.

Similarly, all other indices finished higher with the exception of the NSE-Main Board, NSE Insurance and NSE Oil/Gas which depreciated by 0.62%, 1.32% and 0.77% respectively while the NSE ASeM Index that closed flat.

Forty equities appreciated in price during the week, lower than Sixty-eight equities in the previous week. Twenty-four equities depreciated in price, higher than six equities in the previous week, while ninety- seven equities remained unchanged, higher than ninety-four recorded in the previous week.

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