Saturday, November 28, 2020

Equity market extends weekly gains



Activities on the nation’s equity market last week sustained positive sentiment despite #EndSARS protests that paralysed the economy.

The NSE All-Share Index and Market Capitalisation both appreciated by 0.13 per cent to close the week at 28,697.06 and N14.99tn

All other indices finished lower with the exception of NSE-Main Board, NSE 30, NSE MERI Growth and NSE consumer goods that appreciated by 0.79 per cent, 0.14 per cent, 0.68 per cent and 2.86 per cent respectively while the NSE ASeM Index closed flat.

A total turnover of 1.51 billion shares worth N19.67bn in 20,552 deals were traded last week by investors on the floor of the exchange, in contrast to a total of 1.96 billion shares valued at N22.98bn that exchanged hands the previous week in 22,844 deals.

The financial services industry led the activity chart with 1.19 billion shares valued at N14.95bn traded in 11,318 deals, thus contributing 79.47 per cent and 76.01 per cent to the total equity turnover volume and value respectively.

The conglomerates followed with 97.17 million shares worth N269.05m in 516 deals. The third place was the consumer goods, with a turnover of 77.59 million shares worth N1.93bn in 3,461 deals.