Nigerian stocks post N740bn weekly gain
Nigerian stocks finished the week with a gain of N740bn as the benchmark index rose by 5.30 percent.
The Nigerian Stock Exchange All-Share Index increased to close the week at 28,415.31 from 26,985.77 a week ago while the market capitalisation rose to N14.85 trillion from N14.11 trillion.
All other indices finished higher with the exception of NSE ASeM Index which closed flat.
A total turnover of 3.140 billion shares worth N35.372 billion in 35,099 deals were traded this week by investors on the floor of the Exchange, compared with 1.532 billion shares valued at N16.901 billion that exchanged hands last week in 17,882 deals.
The financial services industry (measured by volume) led the activity chart with 2.325 billion shares valued at N25.816 billion traded in 21,306 deals, thus contributing 74.05 percent and 72.99 percent to the total equity turnover volume and value respectively.
The oil and gas industry followed with 200.567 million shares worth N1.012 billion in 1,977 deals.
The third place was occupied by the industrial goods industry, with a turnover of 149.200 million shares worth N3.631 billion in 2,991 deals.
Trading in the top three equities, namely Zenith Bank Plc, FBN Holdings Plc and United Bank for Africa Plc. (measured by volume), accounted for 1.236 billion shares worth N15.724 billion in 9,774 deals.
They contributed 39.36 percent and 44.45 percent to the total equity turnover volume and value respectively.
Fifty-three equities appreciated in price during the week, compared with 36 in the previous week; 14 equities depreciated in price, compared with 15 equities in the previous week, while 96 equities remained unchanged, compared with 112 in the previous week.
