L–R: Group Head, Corporate Communication, Dangote Group Plc, Anthony Chiejina; Chief Executive Officer, Aliko Dangote Foundation Zouera Youssoufu; Chief Executive Officer, The Nigerian Stock Exchange (NSE), Oscar N. Onyema, OON; Chief Executive Officer, Dangote Cement Plc, Engr Joseph Makoju; Group Managing Director, Dangote Group, Mr Olakunle Alake; Chief Finance Officer, Dangote Cement Plc, Mr. Guillaume Moyen and Group Head, Sustainability & Governance, DIL, Dr Ndidi Nnoli during the Closing Gong Ceremony to commemorate maiden edition of the Facts Behind the Sustainability Report at the Exchange in Lagos.

By FELIX OLOYEDE

The Nigerian equity market appreciated at a slower pace this week compare the 6.96 per cent it grew the previous week.

The NSE All-Share Index and Market Capitalization appreciated by 0.61 per to close the week at 31,069.37 and N13.685 trillion respectively.

The Bank Index appreciated 3.94 per cent to lead all the indices finished the week higher, except the MERI Value, which depreciated by 0.14 per cent and while ASeM closed flat.

Of the 35 equities which appreciated last week, Chams emerged the highest gainer, adding 15.15 per cent, while Berger Paints, which declined -9.52 per cent, shed the most among 24 losers.

The Financial Services Industry led the activity chart in terms of volume with 809.990 million shares valued at N8.495 billion traded in 8,969 deals; thus contributing 74.84 per cent and 46.91 per cent to the total equity turnover volume and value respectively.

The ICT Industry followed with 69.705 million shares worth N5.411 billion in 1,754deals, Healthcare Industry with a turnover of 45.971 million shares worth N14.262 million in 139 deals was third.   

UBA, Access Bank Plc and Zenith Bank were the three highest traded stocks in terms of volume, accounting for 351.014 million shares worth N3.737 billion in 4,088 deals, contributing 32.43 per cent and 20.63 per cent to the total equity turnover volume and value respectively.

The market has so far declined -1.15 per cent this year as investors continue to trade cautiously due to the slow growth pace of the Nigerian economy,