Value of transactions at the Nigerian Stock Market, last week appreciated following sustained strong investors’ sentiments.
The All-Share Index, appreciated to a new high last week after also soaring last week. Specifically, the ASI 3.46 per cent to close at 39,257.53, while market capitalisation jumped N457.6 billion to close at N13.672 trillion.
As such, the month-to-date and year-to-date returns increased to 3.46 per cent and 46.08 per cent respectively.
Three of five sector indices appreciated while two depreciated. The Consumers Goods Index led gaining sectoral indices, adding 6.1 per cent.
The NSE Banking Index followed with a gain of 5.3 per cent higher, while the NSE Insurance Index rose by 0.2 per cent. Conversely, the NSE Industrial Goods Index shed 1.4 per cent just as the NSE Oil & Gas Index fell by 0.5 per cent respectively.
According to analysts at Cordros Capital Limited, “notwithstanding likely profit taking, overall, we expect the market to remain upbeat, as market fundamentals remain strong amid improving macroeconomic conditions.”
The total value of stocks traded was N6.36 billion invested in 500.19 million shares in 4,966 deals, down by 70.27 per cent from N21.38bn recorded the previous trading day.
The three most actively traded sectors were Financial Services (368.81 million shares), Conglomerates (91.93 million shares), and Consumer Goods (21.91 million shares), while the three most actively traded stocks were: Custodian and Allied (70 million shares), FBN Holdings (56.86 million shares) and Zenith Bank (55.62 million shares).
Sector performance was mixed with three indices trending northwards and the other two indices closing bearishly. The NSE Consumer Good Index appreciated the most, gaining 0.4 per cent. Similarly, the NSE Insurance Index rose by 0.2 per cent, while the NSE Industrial Goods Index added 0.1 per cent.
Conversely, the losers were the NSE Banking Index and NSE Oil & Gas Index shedding 0.6 per cent and 0.5 per cent respectively.
