The two market indices of the Nigerian Stock Exchange (NSE), sustained bullish trend last week as the value of equities appreciated by N113 billion.
Specifically, the NSE all share index appreciated by 352.94 basis points or 1.62 per cent to close at 22,109.44 points while the market capitalisation of the 187 main board equities appreciated by N113 billion from N6.938 trillion it closed the preceding week, to N7.051 trillion.
Also, the NSE-30 index appreciated by 12.59 points or 1.26 per cent to close at 1,008.52 points. The NSE-ASI and NSE-30 index appreciated in the previous week by 4.89 per cent and 5.08 per cent, respectively.
The NSE weekly report showed that three of the four sectorial indices appreciated during the week compared to two recorded in the preceding week. The NSE consumer goods index grew by 23.46 points or 1.33 per cent to close at 1,787.72.
The NSE banking index appreciated by 5.78 points or 1.84 per cent to close at 319.73 while the NSE oil/gas index enhanced by 13.19 points or 7.35 per cent to close at 192.53.
However, the NSE insurance index depreciated by 0.77 points or 0.61 per cent to close at 124.94 point.
An analysis for the transactions for the week showed that investors purchased 1.916 billion shares worth N16.664 billion in 23,143 deals, in contrast to a total of 2.049 billion shares valued at N15.736 billion exchanged the previous week in 19,783 deals.
The financial services sector accounted for 1.655 billion shares valued at N12.013 billion traded in 14,561 deals.
The consumer goods sector followed with 113.365 million shares worth N3.552 billion traded in 4,009 deals.
The financial services sector led on the activity chart the previous week and was followed by the consumer goods sector.
The banking subsector was the most active during the week measured by turnover volume with account of 1.520 billion shares worth N11.940 billion exchanged by investors in 13,265 deals. Volume in the banking subsector was largely driven by activities in the shares of United Bank for Africa Plc, Zenith Bank Plc and First Bank of Nigeria Plc.
Filed Under: Business