Investors gain N8.6trn as market cap hits N139.8trn

Nigerian equity investors last week pocketed N8.6 trillion gains as the market’s capitalization witnessed a massive boom. The market gained in all five trading sessions with the market capitalisation hitting N139.8 trillion from N131.1 trillion recorded in the previous week. The All-Share Index (ASI) appreciated by 6.57% to close the week at 217,167.57 points up […]

Nigerian equity investors last week pocketed N8.6 trillion gains as the market’s capitalization witnessed a massive boom.

The market gained in all five trading sessions with the market capitalisation hitting N139.8 trillion from N131.1 trillion recorded in the previous week.

The All-Share Index (ASI) appreciated by 6.57% to close the week at 217,167.57 points up from the 203,770.43 points recorded the previous week.

Monday trading began on a bullish note with investors gaining N443 billion, while Tuesday recorded N884 billion gain.

Investors gained N2.28 trillion at the close of trading on Wednesday, just the positive trend extended to Thursday with N1.66trn gain.

The market closed positively on Friday, as investors gained N3.39 trillion.

During the week, a total turnover of 33.588 billion shares worth N195.313 billion in 254,553 deals was traded by investors on the floor of the Exchange, in contrast to a total of 3.361 billion shares valued at N151.948 billion that exchanged hands last week in 229,442 deals.

The Financial Services Industry (measured by volume) led the activity chart with 2.498 billion shares valued at N94.005 billion traded in 111,052 deals: thus contributing 69.62% and 48.13% to the total equity turnover volume and value respectively.

The Services Industry followed with 329.034 million shares worth N3.452 billion in 14,050 deals.

In third place was the Oil and Gas Industry, with a turnover of 152.472million shares worth N42.511 billion in 19,022 deals.

Trading in the top three equities, namely Sterling Financial Holdings Company Plc, Access Holdings Plc and Zenith Bank Plc (measured by volume), accounted for 1.038 billion shares worth N46.081 billion in 33,067 deals, contributing 28.92% and 23.59% to the total equity turnover volume and value respectively.

Sixty-one (61) equities appreciated in price during the week, higher than twenty-five (25) equities in the previous week. Thirty-six (36) equities depreciated in price, lower than fiftyfour (54) equities in the previous week, while forty-nine (49) equities remained unchanged, lower than sixty-seven (67) recorded in the previous week.

Trans-Nationwide Express Plc recorded the biggest share price increase in percentage, gaining 60.48% followed by Nigerian Exchange Group, which increased its share price by 46.30% in the process.

Standing IBTC also increased its share price by 36.63%.

On the flip side, Coronation Insurance Plc recorded the biggest share price decline in percentage, losing 14.38% followed by Ikeja Hotels Plc, which decreased its share price by 14.36% in the process.

International Energy Insurance Plc, also shed its share price by 13.80%.