Oil stocks gain moves market +1.61% WoW

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8 years ago

INVESTMENT in the Nigerian equities received a lift from the persistent lull recorded over the weeks as two days gain of equities on the floor of the Nigerian Stock Exchange (NSE) closed the week positive.

Specifically, All-Share Index and Market Capitalisation appreciated by 1.61 per cent and 1.54 per cent to close the week at 25,740.83 and N8.855 trillion respectively.

Similarly, all other Indices finished higher during the week with the exception of the NSE Insurance Index that depreciated by 2.04 per cent, while the NSE ASeM Index closed flat.

Twenty seven equities appreciated in price during the week, same as 27 equities of the previous week. 32 equities depreciated in price, higher than 26 equities of the previous week, while 116 equities remained unchanged lower than one hundred and 128 equities recorded in the preceding week.

A turnover of 2.479 billion shares worth N9.988 billion in 12,059 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 639.439 million shares valued at N6.455 billion that exchanged hands last week in 11,799 deals.

The Financial Services Industry (measured by volume) led the activity chart with 2.369 billion shares valued at N5.305 billion traded in 6,590 deals; thus contributing 95.56 per cent and 53.12 per cent to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 33.630 million shares worth N2.758 billion in 2,222 deals. The third place was occupied by the Conglomerates Industry with a turnover of 32.939 million shares worth N41.190 million in 586 deals.

Trading in the Top Three Equities, Wema Bank Plc, Diamond Bank Plc and Access Bank Plc, measured by volume, accounted for 1.934 billion shares worth N1.821 billion in 972 deals, contributing 78.03 per cent and 18.23 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 2,340 units of Exchange Traded Products (ETPs) valued at N39,848.85 executed in 15 deals, compared with a total of 25 units valued at N235.15 transacted last week in five deals.

There was, however, no bond traded in the course of the week on the NSE. However, a total of 2,100 units of Federal Government Bonds valued at N1.838 million were transacted last week in two deals.