Stocks cut losses as market capitalisation rises to N20.19tn
The Nigerian Exchange Limited All-Share Index and market capitalisation appreciated by 1.23 per cent to close the week at 38,726.10 and N20.19tn respectively.
All other indices finished higher with the exception of NSE Consumer Goods, NSE Oil/Gas and NSE Sovereign Bond which depreciated by 0.37 per cent, 0.79 per cent and 0.74 per cent respectively, while the NSE ASeM and NSE Growth Indices closed flat.
A total turnover of 1.08 billion shares worth N9.55bn in 17,933 deals were traded last week by investors on the floor of the Exchange, in contrast to a total of 1.037 billion shares valued at N9.47bn that exchanged hands in 17,577 deals the previous week.
The financial services industry (measured by volume) led the activity chart with 767.00 million shares valued at N4.36bn traded in 9,447 deals, thus contributing 70.86 per cent and 45.63 per cent to the total equity turnover volume and value respectively.
The oil and gas industry followed with 83.53 million shares worth N1.45bn in 1,118 deals, while the conglomerates industry came third with a turnover of 72.813 million shares worth N356.72m in 781 deals.
Trading in the top three equities, namely Sovereign Trust Insurance Plc, Zenith Bank Plc and Veritas Kapital Assurance Plc (measured by volume), accounted for 235.95 million shares worth N1.82bn in 1,654 deals, contributing 21.8 per cent and 19.07 per cent to the total equity turnover volume and value respectively.
Thirty-three equities appreciated in price during the week, compared to 32 in the previous week; 33 equities depreciated in price as against 30 equities in the previous week, while 94 equities remained unchanged as against 98 equities recorded in the previous week.
A total of 91,560 units of bonds valued at N96.35m were traded last week in 30 deals compared with a total of 46,252 units valued at N48.47m transacted last week in 44 deals.
A total of 706 units of exchange-traded products valued at N5.13m were traded last week in six deals compared with a total of 1,415 units valued at N1.48m transacted in 11 deals the previous week.