By InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian equities market on Friday ended weeks of bearish streak as all share index (ASI) and market capitalisation gained 2.42 percent on the shares of lenders, Access bank Plc, Zenith Bank Plc and United Bank for Africa Plc to close at 29,511.08 basis points and N10.148 trillion respectively.
The Nigerian Stock Exchange (NSE) weekly stock market report affirmed that trading in the shares of these lenders measured by volume accounted for 1.297 billion shares worth N10.047 billion in 4,732 deals, contributing 53.18 percent and 47.68 percent to the total equity turnover volume and value respectively.
All the NSE Indices rose during the week with the exception of the following Indices: NSE Premium Index, NSE Oil/Gas Index, NSE Lotus II and NSE Industrial Goods Index by 0.95 percent, 2.22 percent, 0.31 percent and 1.84 percent respectively, the NSE weekly update added.
According to the report, a turnover of 2.440 billion shares worth N21.071 billion in 22,736 deals were traded this week by investors on the floor of local bourse compared to a total of 2.051 billion shares valued at N17.869 billion that exchanged hands last week in 21,762 deals.
It says the Financial Services Industry measured by volume led the activity chart with 2.027 billion shares valued at N14.261 billion traded in 12,944 deals; thus contributing 83.09 percent and 67.68 percent to the total equity turnover volume and value respectively.
The NSE further affirmed that the Natural Resources Industry followed with a turnover of 133.889 million shares worth N67.005 million in 16 deals.
While, the Conglomerates Industry emerged third with 96.469 million shares worth N589.284 million in 1,238 deals.
A summary of price changes in the review week shows that 57 equities gained in price during the week, higher than 13 posted the previous week.
While 20 equities dipped in price, lower than 65 reported last week and 113 equities remained unchanged, higher than 112 equities recorded in the preceding week.
