Stock Market Rises Slightly As Investors Gain N90bn

The nation’s stock market rose by 0.67 per cent last week as the market capitalisation increased by N90bn.

The Nigerian Stock Exchange All-Share Index closed at 25,182.67 basis points last week, up from 25,016.30bps the previous week.

The market capitalisation of equities rose to N13.14tn from N13.05tn.

All other indices finished higher with the exception of NSE MERI Growth, NSE Consumer Goods and NSE Oil/Gas Indices, which depreciated by 0.07 per cent, 0.20 per cent and 2.62 per cent respectively, while NSE ASeM closed flat.

It was a four-day trading week as the Federal Government declared last Friday a public holiday to mark the Democracy Day celebrations.

A total turnover of 1.103 billion shares worth N9.88bn in 16,616 deals were traded last week by investors on the floor of the exchange, in contrast to a total of 1.469 billion shares valued at N23.55bn that exchanged hands the previous week in 22,911 deals.

The financial services industry (measured by volume) led the activity chart with 814.292 million shares valued at N7.19bn traded in 8,352 deals, thus contributing 73.82 per cent and 72.76 per cent to the total equity turnover volume and value respectively.

The oil and gas industry followed with 66.78 million shares worth N143.05m in 1,044 deals, while the third place was occupied by the consumer goods industry, with a turnover of 57.842 million shares worth N1.02bn in 2,559 deals.

Trading in the top three equities, namely Mutual Benefits Assurance Plc, Guaranty Trust Bank Plc and FBN Holdings Plc (measured by volume) accounted for 485.307 million shares worth N5.05bn in 2,683 deals, contributing 44 per cent and 51.11 per cent to the total equity turnover volume and value respectively.

Thirty-four equities appreciated in price last week, compared to 26 in the previous week; 31 equities depreciated in price, compared to 39 in the previous week, while 98 equities remained unchanged, same as the figure recorded in the previous week.

A total of 767,768 units valued at N5.61bn was traded last week in 17 deals, compared with 288,112 units valued at N3.99m transacted the previous week in nine deals.

A total of 1,002 units valued at N971,140.42 were traded last week in 9 deals, compared with 2,785 units valued at N3.12m transacted the previous week in six deals.

A total volume of 255,479,774 units of 12.50 per cent FGN MAR 2035 and 238,832,602 units of 12.98 per cent FGN MAR 2050 were admitted to trade at the Exchange on June 10, 2020.

A total volume of 100,000,000 units of 12.50 per cent, Fixed Rate Series 1 Senior Unsecured Bonds Due 2025 (12.50 per cent DCM APR 2025) under the N300bn Debt Issuance Programme were admitted to trade at the Exchange on June 11, 2020.

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