The Nigerian stock market saw significant growth last week with a total gain of N1.83tn. The All-Share Index and Market Capitalisation both increased by two per cent and 2.78 per cent, ending at 108,053.95 points and N67.418tn, respectively.
Investors traded a total of 2.414 billion shares valued at N55.512bn in 80,988 deals during the week, compared to the previous week’s 3.051 billion shares worth N98.350bn traded in 72,535 deals.
The Financial Services Industry dominated the market activity, with 1.398 billion shares valued at N24.039bn traded in 31,919 deals, accounting for a significant portion of the total equity turnover volume and value.
Top trading equities included Sterling Financial Holdings Company Plc, Access Holdings Plc, and Secure Electronic Technology Plc, which collectively contributed 18.87 per cent and 9.50 per cent to the total equity turnover volume and value, with 455.469 million shares worth N5.273bn traded in 6,654 deals.
There were 65 equities that saw price appreciation, 31 equities that depreciated, and 54 equities that remained unchanged during the week, reflecting a positive trend in the market. The All-Share Index closed at 105,933.03 points, showing a 1.38 per cent increase at the end of the week.