NSE Index Gains 7.40% in One Week on Healthy Bull Sentiment

Following the announcement of the new forex framework last week, activities at the Nigerian Stock Market switched into intense bull mode even as more investors’ took on bargain hunting.

To this end, the All-Share Index surged by 7.40% to close the week at 29,247.27 and N10.045 trillion respectively.

Likewise, all other Indices finished higher during the week, with the exception of the NSE ASeM Index, that dropped by 0.17%.

Forty-four equities appreciated in price during the week, higher than 27 equities of the previous week. Twenty-four equities depreciated in price, lower than 41 equities of the previous week, while 112 equities remained unchanged equal to that of the previous week.

The Financial Services Industry (measured by volume) led the activity chart with 1.939 billion shares valued at N12.393 billion traded in 16,023 deals; thus contributing 89.85% and 60.77% to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 77.415 million shares worth N4.747 billion in 3,489 deals. The third place was occupied by the Conglomerates Industry with a turnover of 74.437 million shares worth N412.717 million in 1,018 deals.

A turnover of 2.158 billion shares worth N20.394 billion in 24,369 deals were exchanged this week by investors on the floor of the Exchange in contrast to a total of 959.917 million shares valued at N7.871 billion that exchanged hands last week in 17,561 deals.

Also traded during the week were a total of 519,199 units of Exchange Traded Products (ETPs) valued at N6.582 million executed in 42 deals, compared with a total of 78,666 units valued at N866,656.30 transacted last week in 25 deals.

A total of 4,170 units of Federal Government Bonds valued at N4.413 million were traded in 3 deals compared to a total of 4,725 units of Federal Government Bonds valued at N5.266 million transacted last week in 3 deals.