Nigeria’s equity market finished the month of January on a positive note with net capital gain of N1.13 trillion or an average return of 5.32 per cent in January 2021.
Trading statistics revealed that activities on the Nigerian Stock Exchange which opened the trading year at N21.06 trillion in market capitalisation and 40,270.72 in index at the beginning of trading on January 4, 2021 closed the month at N22.19 trillion and 42,412 index points,
Oil and gas stocks finally halted the week-long losing streak to finish higher, +0.63 per cent. Stocks of Ardova +8.57 per cent and Oando +2.50 per cent provided support.
All other sectors also finished in green, except for industrials, which had a marginal decline of eight basis points.
Turnover on the bourse last week was impressive, with a daily average of $14.53 million.
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On Friday, investors traded a total of $17.18million. Zenith retained the top spot on the activity chart with $3.20million traded.
Other notable volumes were MTN $2.47million; GTB $1.84million and Wapco $1.56million. Trading was skewed mostly towards domestic investors.
Meanwhile, the NSE All-Share Index and market capitalisation both appreciated by 3.442 per cent to close last week at 42,412.66 and N22.18 trillion, respectively.
Also, all other indices finished higher with the exception of NSE Oil/Gas, which depreciated by 7.25 per cent while the NSE ASeM and NSE Growth Indices closed flat.
The NSE Insurance Index, which tracks insurance stocks, recorded the highest gain of 29.77 per cent as insurers rallied on the back of suspension of industry recapitalisation.
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The NSE Pension Index, which tracks stocks specially screened in line with pension investment guidelines, rose by 7.49 per cent.
The NSE Consumer Goods Index appreciated by 7.04 per cent.
A total turnover of 2.57 billion shares worth N27.88 billion in 31,466 deals were traded last week by investors on the floor of the exchange, in contrast to a total of 4.29 billion shares valued at N25.99 billion that exchanged hands the previous week in 32,849 deals.
