Local bourse rallies ₦154 billion gain, amid interim dividends from tier-I lenders

Local bourse, equity market, equity market tea leaves

Local bourse rallies ₦154 billion gain, amid interim dividends from tier-I lenders Trading activities on the Nigerian equity market during the week went on a bullish run, sustaining previous six weeks positive sentiments, following the declaration of interim dividends from the tier-I lenders.

As such, the NSE-ASI and NSE-Market Capitalization value grew by 1.17% w/w o close for this week at 25,605.64 absolute points and ₦13.36 trillion respectively as against 25,309.37 absolute points and ₦13.20 trillion last Friday. This, in nominal term, translates to a week-on-week gain of ₦154.44 billion in Market Capitalization value.

All of the five sectors closed positive on week-on-week basis, led by Oil & Gas (+3.65%), Banking (+2.76%) Insurance (+1.96%), Consumer Goods (+1.49%) and Industrial Goods (+0.44%) sector.

ROYALEX emerged top gainers this week; appreciating by 26.92% w/w, while INITSPLC shed 18.57 % w/w to emerge the top loser.

Overall, a total turnover of 2.21 billion shares worth ₦10.96 billion in 18,012 deals were traded this week by investors on the floor of the Nigerian exchange in contrast to a total 1.07 billion shares valued at ₦7.38 billion that exchanged hands last week in 16,684 deals.

Local bourse

Local bourse

A total Forty-One (41) equities appreciated in price during the week, higher than Twenty-Nine (29) equities in the previous week.

Nineteen (19) equities depreciated in price, lower than Thirty-Six (36) equities in the previous week, while One Hundred and Three (103) equities remained unchanged, lower than Ninety-Eight (98) equities recorded in the previous week.


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