Stock investors record N1tr gains

Nigerian stocks investors started the year on a very strong note after recording N1 trillion gains in four weeks of trading which closed on Friday.

Bargains buy in the insurance, oil & gas, and banking stocks helped the market to close all the Nigerian Stock Exchange (NSE) sectoral indices in green.

The “NSE 30” which tracks the performance of the 30 most capitalised stocks increased by +4.93percent – banking (+7.89percent), consumer goods (+7.04 percent), industrial (+1.41 percent), insurance (+29.77percent) and oil & gas (+12.43percent).

The market opened the year January 4 with the All-Share Index (ASI) at 40,270.72 points and listed stocks’ valued at N21.057 trillion.

At end of today’s trading, ASI increased to 42,412.66 points while the value of listed stocks rose to N22.186 trillion.

From January 25 to January 29, a total turnover of 2.570 billion shares worth N27.884 billion in 31,466 deals were traded by investors, in contrast to 4.288 billion shares valued at N25.989 billion that exchanged hands in 32,849 deals last week.

The Financial Services Industry led the activity chart with 1.497 billion shares in 14, 324 deals and valued at N12.695 billion. The sector contributed 58.22 percent and 45.53 percent to the total equity turnover volume and value respectively.

READ ALSO: Nigerian stocks extend gain for fourth day in a row

The Conglomerates Industry followed with 363.263 million shares worth N821.428 million in 1,722 deals while Consumer Goods Industry with a turnover of 220.759 million shares worth N3.953 billion in 5,952 deals completed the list.

Trading in the top three equities namely Transnational Corporation of Nigeria, Union Bank of Nigeria Plc and Zenith Bank Plc (measured by volume) accounted for 633.261 million shares worth N5.634 billion in 3,947 deals, contributing 24.64 percent and 20.20 percent to the total equity turnover volume and value respectively,

A breakdown of the figure showed that 41 equities appreciated in price from January 25 to January 29, lower than the 53 equities in third week of January.

34 equities also depreciated in price, higher than the 29 equities for the previous week.

86 equities remained unchanged, higher than 79 recorded in the previous week.

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