Business
NSE ROUNDUP: Stocks go N747bn bigger but profit-taking caps gains
The equity segment of the Nigerian Stock Exchange (NSE) enlarged by N747.194 billion this week, supported by a major gain of N708 billion on Tuesday, the market’s biggest single day gain in more than five years.
Investors, dispirited by the low yields on government debts and other fixed income instruments following a surprise interest rate cut by the central bank in September, are casting their glances elsewhere and the equity market seems one of the choicest havens to reallocate their assets.
However, sell pressure on stocks dominated Wednesday through Friday, setting in motion three trading days of successive losses that moderated gains.
All the key market performance indicators closed higher. A positive market breadth was recorded as 53 gainers emerged against 14 losers. The All Share Index (ASI) and the market capitalisation rose by 5.30%. While the former closed at 28,415.31 basis points, the latter closed at N14.852 trillion.
Read also: NSE ROUNDUP: Market posts biggest month-to-date return after CBN’s policy shift
Trade Volume of 3,140 billion shares worth N35.372 billion was recorded in 35,099 deals this week compared to the 1.532 billion shares valued at N16.901 billion posted in 17,882 deals last week.
On the Activity Chart, the Financial Services sector dominated trade with 2.325 billion shares estimated at N25.816 billion traded in 21,306 deals. Specifically, it added 74.05% and 72.999% to the total equity volume and value respectively. The Oil and Gas sector came next, trading 200.567 million shares worth N1.012 billion in 1,977 deals. The Industrial Goods industry was third, trading 149.200 million shares priced at N3.631 billion in 2,991 deals.
As regards Index Movement, all indices appreciated save for NSE ASeM Index, which did not budge.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: In Kwara, multimillion-naira milk processing plant is abandoned, converted to a chicken outlet
After the government spent millions of naira to establish a milk processing plant in Kwara State that would provided jobs...
SPECIAL REPORT: For Sokoto communities, promise of healthcare is akin to death sentence
In this story, ABDULRASHEED HAMMAD delves into the dire realities of Primary Health Care services in Sokoto State, shedding light...
ICYMI…SPECIAL REPORT: NNPCL hides behind PIA to frustrate disclosure, accountability
Nigeria’s major oil company, Nigerian National Petroleum Corporation Limited (NNPCL), in what appears to be a common practice of disregard...
INVESTIGATION: Multi-million naira Ekiti resort center remains uncompleted a decade after
The multimillion-naira project, expected to comprise recreational buildings, now consists of cassava farmland, a bush used for excretion, and a...
SPECIAL REPORT: Torturous experiences of students with disabilities in Oyo tertiary institutions
For students with disabilities in Oyo state-owned tertiary institutions, learning is a torturous and distressing experience, considering the building structures...