Despite the Eid el-Maulud holiday on Monday, the Nigerian equity market gained N455bn last week.
The NGX All-Share Index and market capitalization appreciated by 0.81 per cent to close the week at 98,247.99 and N56.457tn, respectively.
Investors traded 1.86 billion shares valued at N38.45bn in 40,228 deals, compared to 2.584 billion shares worth N51.205bn shares that exchanged hands in 50,615 deals in the previous week.
The financial services industry led the activity chart (measured by volume) with 820.815 million shares valued at N16.15bn traded in 16,627 deals, contributing 44.13 per cent to total equity turnover volume and 42.01 per cent to total equity turnover value.
Trading in the top three equities were Japaul Gold & Ventures Plc, First Bank of Nigeria Holdings Plc, and UAC of Nigeria (measured by volume), which accounted for 728.034 million shares worth N10.03bn in 4,374 deals, contributing 39.14 per cent to total equity turnover volume and 26.09 per cent to total equity turnover value.
Additionally, a total of 146,162 units valued at N14.736 m were traded last week in 151 deals, compared with 43,535 units valued at N13.476 m transacted last week in 122 deals.
Additionally, 41 equities were appreciated during the week, lower than 52 equities in the previous week. Conversely, 40 equities depreciated, higher than 31 in the previous week, while 70 equities remained unchanged, an increase from 68 recorded in the prior week.
Last week, domestic market performance was guided by key monetary policy decisions by global central banks (US Fed, Bank of England and Peoples Bank of China).
Against this backdrop, the Morgan Stanley Capital International world equity index advanced 2.2 per cent week on week.
-By Temitope Aina