NSE gains N350bn as market cap hits N14tn

Business dealings on the floor of the Nigerian Stock Exchange closed last week on the positive trajectory as the NSE All-Share Index appreciated by 2.53 per cent to the close the week at 26,985.77, TopNaija reports.

Similarly, market capitalisation appreciated by 2.55 per cent or N350bn to close the week at N14.11tn.

All other indices finished higher with the exception of NSE Consumer Goods, which depreciated by 0.75 per cent while NSE ASeM Index closed flat.

The market opened for four trading days this week as the Federal Government of Nigeria declared Thursday, October 1, 2020 a public holiday to mark the country’s 60th Independence Anniversary.

A total turnover of 1.53billion shares worth N16.90bn in 17,882 deals were traded last week by investors on the floor of the exchange, in contrast to a total of 1.57 billion shares valued at N20.56bn that exchanged hands the previous week in 18,396 deals.

The financial services industry (measured by volume) led the activity chart with 1.29 billion shares valued at N10.56bn traded in 10,046 deals, thus contributing 84.29 per cent and 62.49 per cent to the total equity turnover volume and value, respectively.

The conglomerates industry followed with 62.39 million shares worth N89.21m in 453 deals.

The third place was the industrial goods industry, with a turnover of 55.17 million shares worth N2.98bn in 1,752 deals.

Trading in the top three equities namely Zenith Bank Plc, Sterling Bank Plc and United Bank for Africa Plc. (measured by volume) accounted for 815.65 million shares worth N7.31bn in 4,461 deals, contributing 53.22 per cent and 43.26 per cent to the total equity turnover volume and value, respectively.

A total of 36 equities appreciated in price during the week, higher than 35 equities in the previous week.

Also, 15 equities depreciated in price, lower than 28 equities in the previous week, while 112 equities remained unchanged, higher than 100 equities recorded in the previous week