NSE Market value rises by N323bn
By Laz IBEABUCHI
LAGOS-Value of equities listed on the Nigerian Stock Exchange, NSE, recorded a significant gain this week as the market capitalization rose by N323 billion.
Also, the All-share index soared by 4.9 per cent, gaining 1,013.34 basis points in the week under review.
The NSE market capitalization rose by 4.9 per cent to N6.938 trillion from N6.615 trillion at which it opened, while the index closed at 21,756.50 points from 20,743.16 points at which it started the week.
Equity trading also appreciated by 29.58 per cent, as investors exchanged 2.05 billion shares valued at N15.74 billion in 19,783 deals, compared to the previous week’s turnover of 1.582 billion shares valued at N7.859 billion in 14,492 deals. The Financial Services sector accounted for 68.8 per cent of the total market turnover, with 1.769 billion shares valued at N10.78 billion in 10,827 deals.
The Banking subsector of the Financial Services sector was the most active in the sectorial analysis, trading b1.41 billion shares valued at N10.45 billion in 10,413 deals.
Volume in the Banking subsector was largely driven by activity in the shares of United Bank of Africa Plc, First City Monument Bank Plc and Guaranty Trust Bank Plc.
The Consumer Goods sector followed on the week’s activity accounting for 6.5 per cent of the market turnover, with 113. 97 million shares valued at N3.65 billion in 3,520 deals