The Nigerian stock market saw a significant gain of N77 billion last week, raising the total market capitalisation to N59.29 trillion, edging closer to the anticipated N60 trillion threshold.
The All-Share Index rose by 0.11% to end at 97,829.02 points, showing a positive outlook for the market throughout the week.
A total of 1.95 billion shares, worth N35.86 billion, were traded in 48,553 transactions. This is higher than the previous week’s 1.48 billion shares, valued at N38.88 billion, traded in 44,795 deals.
The Financial Services Industry dominated the market in terms of volume, trading 1.041 billion shares worth N16.207 billion in 21,099 transactions. This made up 53.34% of the total shares traded and 45.19% of the total value.
Trailing behind, the Oil and Gas Industry traded 273.407 million shares worth N6.717 billion in 5,489 deals. The Services Industry came next, trading 141.184 million shares worth N779.166 million in 3,072 deals.
Notably, Japaul Gold and Ventures Plc, FBN Holdings Plc, and Access Holdings Plc were the key players in the week’s trading. These three companies together traded 461.5 million shares worth N6.183 billion in 4,658 deals, representing 23.64% of the total shares traded and 17.24% of the total value.
The stock market showed better performance, with 52 stocks increasing in price, up from 39 the week before. Leading the gains were Eunisell Interlinked Plc (+60.72%), Tantalizers Plc (+57.33%), and John Holt Plc (+42.49%).
Meanwhile, 33 stocks dropped in value, fewer than the 46 from the previous week. The biggest drops were seen in Mecure Industries Plc (-18.53%), Multiverse Mining and Exploration Plc (-17.61%), and FBN Holdings Plc (-7.97%).
