• Tuesday, March 19, 2024
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BusinessDay

Stock investors gain over N800bn in one week

Stock investors

Investors in Nigerian stock market gained approximately N885 billion in the trading week to May 24, 2019 following increased demand in the shares of newly listed MTN Nigeria Communications Plc (MTNN) and that of Dangote Cement Plc.

The Nigerian Stock Exchange (NSE) All-Share Index (ASI) and Market Capitalisation appreciated by 6.96percent to close the review week at 30,881.29 points and N13.602trillion respectively from preceding week low of 28,871.93 points and N12.717 trillion.

Thirty (30) equities appreciated in price during the review week, higher than 16 in the preceding week. Forty (40) equities depreciated in price, lower than 42 equities in the preceding week, while 98 equities remained unchanged, lower than 109 equities recorded in the preceding week.

All other indices finished lower with the exception of the -, NSE 30, NSE Premium, NSE Insurance, NSE MERI Growth, NSE Lotus II and NSE Industrial Goods Indices that appreciated by – 0.81percent, 14.09percent, 1.18percent, 1.42percent, 3.45percent and 6.12percent respectively.

The market recorded turnover of 1.698 billion shares worth N57.895 billion in 24,328 deals in contrast to a total of 1.172 billion shares valued at N17.887 billion that exchanged hands in the preceding week in 18,380 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.121 billion shares valued at N8.708 billion traded in 13,380 deals; thus contributing 66.01percent and 15.04percent to the total equity turnover volume and value respectively; followed by the ICT Industry with 324.332 million shares worth N40.717 billion in 3,330 deals; and Consumer Goods Industry with a turnover of 75.831 million shares worth N2.948 billion in 2,957 deals.

Trading in the Top Three Equities namely, MTN Nigeria Communications Plc, Sovereign Trust Insurance Plc (measured by volume) accounted for 726.103 million shares worth N41.622 billion in 4,972 deals, contributing 42.75percent and 71.89percent to the total equity turnover volume and value respectively.

 

Iheanyi Nwachukwu