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Stock market gains 7.46%, highest in five weeks

Trading activities on the equity market finished last week on the positive trajectory as the NSE All-Share Index and market capitalisation appreciated by 7.46 per cent to close the week at 36,804.75 and N19.24tn respectively.

The local bourse recorded the largest weekly gain in five weeks.

Similarly, all other indices finished higher while the NSE ASeM and NSE Growth Indices closed flat.

A total turnover of 1.89 billion shares worth N17.65bn in 20,660 deals were traded last week by investors on the floor of the exchange in contrast to a total of 2.27 billion shares valued at N20.99bn that exchanged hands the previous week in 23,722 deals.

The financial services industry (measured by volume) led the activity chart with 1.49 billion shares valued at N8.39bn traded in 10,834 deals, thus contributing 78.65 per cent and 47.52 per cent to the total equity turnover volume and value respectively.

The consumer goods industry followed with 106.99 million shares worth N2.36bn in 3,447 deals.

The third place was services industry, with a turnover of 74.75 million shares worth N191.83m in 448 deals.

Trading in the top three equities namely Jaiz Bank Plc, FBN Holdings Plc and Niger Insurance Plc (measured by volume) accounted for 761.87 million shares worth N1.47m in 1,395 deals, contributing 40.25 per cent and 8.32 per cent to the total equity turnover volume and value respectively.

On the bourse, 53 equities appreciated in price during the week, higher than 13 equities in the previous week.

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Also, 17 equities depreciated in price, lower than 46 equities in the previous week, while 91 equities remained unchanged, lower than 102 recorded in the previous week.

A total of 412,358 units of ETPs valued at N1.39bn were traded last week in 40 deals compared with a total of 292,510 units valued at N2.27bn transacted the previous week in 45 deals.

A total of 47,699 units of bonds valued at N53.13m were traded last week in 22 deals compared with a total of 13,555 units valued at N17.37m transacted the previous week in eight deals.

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