Investors Trade N32.7bn Worth Shares to Net N552bn Weekly Gain

Investors in the Nigerian capital market have raked in N552 billion in profit at the end of the second trading week of the year ended Friday 15 January, 2021 which closed in the green territory.

The gain recorded after the weekly five trading sessions was driven by improved transactions at the bourse as traded volume and value of trade went up by 1.56 per cent and 64.72 per cent respectively.

Thus, the All-share index (ASI) that tracks movement of share prices at the market added 1,055.92 points equivalent to 2.63 per cent to close at 41,176.14 basis points while market capitalization soared to N21.530 trillion from N40.120 trillion it closed the previous week.

A total turnover of 3.447 billion shares worth N32.725 billion in 30,327 deals were traded durin the week by investors on the floor of the Exchange, in contrast to a total of 3.394 billion shares valued at N19.867 billion that exchanged hands the previous week in 26,808 deals.

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The financial services industry, measured by volume, led the activity chart with 1.714 billion shares valued at N13.352 billion traded in 15,102 deals; thus contributing 49.74 per cent and 40.80 per cent to the total equity turnover volume and value respectively.

While the construction/real estate industry followed with 768.131 million shares worth N4.203 billion in 430 deals, the third place was conglomerates industry, with a turnover of 279.799 million shares worth N578.694 million in 1,199 deals.

Trading in the top three equities namely UPDC Real Estate Investment Trust, Mutual Benefits Assurance Plc and Transnational Corporation of Nigeria Plc (measured by volume) accounted for 1.224 billion shares worth N4.459 billion in 929 deals, contributing 35.52 per cent and 13.63 per cent to the total equity turnover volume and value respectively.

A total of 413,509 units Exchange Traded Funds (ETFs) valued at N2.454 billion were traded this week in 42 deals compared with a total of 196,294 units valued at N816.553 million transacted last week in 38 deals.

Similarly, investors transacted a total of 11,420 units of bonds valued at N12.325 million in 17 deals compared with a total of 10,051 units valued at N12.591 million transacted last week in 27 deals…Read more