Home Business Nigerian equity market gains 1.78% in Easter week

Nigerian equity market gains 1.78% in Easter week

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Nigerian Stock Exchanging in trading session
Stockbrokers during a trading session at the NSE

Positive results declared by companies inspire the Nigerian equity market to appreciate 1.78 per cent in the Easter on the back of 5.70 per cent gains Consumer Goods sector and 2.44 rise by the Insurance sector.

The All-Share Index and Market Capitalization appreciated by 1.78 per cent to close the week at 30,086.31 and N11.301 trillion respectively.

All other indices finished higher except the NSE Oil/Gas Index which was down by 2.12 per cent.

Meanwhile, ASI gained 116.05 absolute points, representing an increase of 0.39 per cent to close at 30,086.91 points, while Market Capitalization surged by N43.37 billion representing a growth of 0.39 per cent to close at N11.30 trillion.

A total turnover of 988.692 million shares worth N11.432. billion in 13,596 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.770 billion shares valued at N15.264 billion that exchanged hands last week in 17,015 deals.

The Financial Services Industry (measured by volume) led the activity chart with 766.191 million shares valued at N7.261 billion traded in 7,820 deals; thus contributing 77.50 per cent and 63.51 cent to the total equity turnover volume and value respectively.

The ICT Industry followed with 74.769 million shares worth N24.600 million in 212 deals. The third place was Consumer Goods Industry with a turnover of 48.022 million shares worth N3.095 billion in 2,374 deals.
Trading in the Top Three Equities namely, Union Bank of Nigeria Plc, Access Bank Plc and Guaranty Trust Bank Plc (measured by volume) accounted for 355.043 million shares worth N4.845 billion in 2,133 deals, contributing 35.91 per cent and 42.38 per cent to the total equity turnover volume and value respectively.

The Federal Government  has declared Friday  and Monday Public Holidays to mark the end of the End of the Lenten season and Easter celebrations.