Nigerian stocks recorded significant appreciation this week, with the Nigerian Stock Exchange (NSE) adding N1.338 trillion amid investors’ surging interest in equities.
Liquidity improved by 46 per cent despite fewer trading sessions on account of the public holiday on Thursday, marking yuletide.
All the key market performance indicators advanced. A positive market breadth was recorded, with 35 gainers emerging against 18 losers. The All-Share Index and market capitalisation simultaneously rose by 5.42%. While the former closed at 38,800.01 index points, the latter closed at N20.279 trillion.
Trade volume of 2.756 billion shares worth N17.647 billion was recorded in 17,459 deals relative to the 1.893 billion shares valued at N17.647 billion posted in 20,660 deals last week.
On the NSE activity chart, the Financial Services sector dominated trade with 2.106 billion shares estimated at N19.454 billion traded in 8,327 deals. Specifically, it added 76.40% and 48.26% to the total equity volume and value respectively. The Consumer Goods industry came next, trading 182.099 million shares worth N4.392 billion in 2,485 deals. The Industrial Goods sector was third, trading 145.808 million shares priced at N10.632 billion in 2,587 deals.
As regards index movement, all indices on the NSE appreciated save for NSE Banking, AFR Bank Value, AFR Div Yield and MERI Growth, which declined by 1.03%, 0.95%, 0.31% and 0.80% respectively. The NSE ASeM and NSE Growth indices closed flat.
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