NSE ROUNDUP: Stocks record N958bn gain as company results bolster sentiments

The Nigerian Stock Exchange (NSE) recorded the biggest single week gain so far this year this week, with nearly N1 trillion added to the market capitalisation even though the market was not open on Thursday on account of a public holiday.

Helped by the release of largely positive 9-month company results as well as dividend declaration by a couple of heavyweight quoted firms, investors sentiments pushed trade volume up by 404 million, a 27% improvement week on week.

All the key market performance indicators climbed further. A positive market breadth was recorded as 68 gainers emerged against 6 losers. The All Share Index (ASI) and the market capitalisation simultaneously advanced by 6.39%. While the former closed at 30,530.69 basis points, the latter closed at N15.958 trillion.

Read also: NSE ROUNDUP: Market closed on an upbeat note despite nationwide #EndSARS protests

Trade Volume of 1.909 billion shares worth N23.610 billion was recorded in 23,578 deals relative to the 1.505 billion shares valued at N19.668 billion posted in 20,552 deals last week.

On the Activity Chart, the Financial Services sector dominated trade with 1.478 billion shares estimated at N15.576 billion traded in 12,546 deals. Specifically, it added 77.41% and 65.97% to the total equity volume and value respectively. The Consumer Goods sector came next, trading 97.167 million shares worth N269.045 million in 516 deals. The Industrial Goods industry was third, trading 83.526 million shares priced at N3.573 billion in 1,818 deals.

As regards Index Movement, all indices appreciated save for NSE ASeM Index which closed flat.

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