Investors gain N390bn as Nigerian stocks close higher
Investors in the Nigerian stock market gained N390bn at the close of trading this week amid positive sentiment.
The Nigerian Stock Exchange All-Share Index and market capitalisation appreciated by 2.19 percent to close at 34,885.51 basis points and N18.228 trillion respectively.
All other indices finished higher, with the exception of NSE CG, NSE Banking, NSEAFR Bank Value, NSE AFR Div Yield, NSE MERI Growth and NSE Consumer Goods which depreciated by 0.05 percent, 1.31 percent, 1.53 percent, 0.38 percent, 0.44 percent and 0.5 percent while the NSE ASeM Index closed flat.
A total turnover of 1.816 billion shares worth N25.791 billion in 31,665 deals were traded this week by investors on the floor of the Exchange, compared with 11.400 billion shares valued at N35.892 billion that exchanged hands last week in 39,265 deals.
The financial services industry (measured by volume) led the activity chart with 1.274 billion shares valued at N14.710 billion traded in 18,392 deals, thus contributing 70.15 percent and 57.04 percent to the total equity turnover volume and value respectively.
The conglomerates industry followed with 217.170 million shares worth N231.809 million in 1,226 deals. The third place was occupied by the consumer goods industry, with a turnover of 113.760 million shares worth N2.598 billion in 4,568 deals.
Trading in the top three equities, namely Zenith Bank Plc, Transnational Corporation of Nigeria Plc and Access Bank Plc (measured by volume), accounted for 649.529 million shares worth N8.104 billion in 6,395 deals, contributing 35.76 percent and 31.42 percent to the total equity turnover volume and value respectively.
