The Nigerian equity market saw growth, gaining N1.1tn in just one week, as the All-Share Index closed at 104,496.12 and market capitalisation rose to N64.709tn.

The increase was driven by performances in key sectors, despite declines in the insurance and industrial goods indices, which fell by 2.86 per cent and 0.52 per cent, respectively.

total of 3.245bn shares, valued at N69.198bn, were traded in 77,270 deals last week, reflecting a rise in volume from the previous week’s 3.132bn shares worth N76.552bn. The Financial Services Industry led the activity chart with 1.742bn shares valued at N32.529bn, contributing 53.69 per cent and 47.01 per cent to the total equity turnover volume and value.

The services and oil and gas sectors followed, with 748.205m shares worth N1.560bn and 264.682m shares valued at N16.786bn, respectively. Secure Electronic Technology Plc, FBN Holdings Plc, and Japaul Gold and Ventures Plc were the top three equities by volume, contributing 30.77 per cent of the total volume and 9.54 per cent of the total value.

A total of 52 equities appreciated in price, compared to forty-four in the previous week. The top gainers included Chellarams Plc (+60.44 per cent) and Vitafoam Nig Plc (+31.48 per cent). On the other hand, Veritas Kapital Assurance Plc and MRS Oil Nigeria Plc recorded significant declines.

https://punchng.com/equity-market-gains-n1-1tn-in-one-week/