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Equities rise by 1% in abridged trading week

Equities rise by 1% in abridged trading week

It was a brief trading week as the Market opened for three days in observance of the Thursday and Friday public holidays, declared by the Federal Government to mark the Eid-El-Kabir celebration. A total turnover of 421.984 million shares worth N5.337 billion in 11,801 deals were traded last week by investors on the floor of the Nigeria Stock Exchange (NSE), in contrast to 1.350bn shares valued at N14.433bn that exchanged hands in 16,723 deals.
‘Businesses lost hope on economic growth in July’ Despite equities market lull, investors gained N73bn The NSE All-Share Index and Market Capitalization both appreciated by 1.09% to close the week at 24,693.73 and N12.882 trillion. All other indices finished higher with the exception of NSE ASeM, NSE Consumer Goods and NSE Oil/Gas Indices which depreciated by 0.06%, 0.44% and 6.51% respectively. Twenty four equities appreciated in price, lower than 28 equities in the previous week. 28 other equities depreciated which was higher than 25 recorded previously. 111 equities were unchanged, with higher figure that the 110 recorded earlier. The Financial Services industry led the activity chart with 249.588m shares volume that was valued at N1.563bn traded in 5,899 deals. It contributed 59.15% and 29.29% to equity’s turnover volume and the value.
Consumer Goods industry followed with 51.760m shares worth N1.072bn in 1,877 deals. Industrial Goods industry was the third with 46.197m shares turnover that was worth N833.473m in 1,489 deals. Top three equities that traded were WAPCO Plc, FBN Holdings Plc and Mutual Benefit Assurance Plc as they accounted for 110.114m shares worth N685.942m in 1,587 deals, contributing 26.09% and 12.85% equity turnover volume and value.

Source: https://www.dailytrust.com.ng/equities-rise-by-1-in-abridged-trading-week.html