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Capital Market Investors Gained N420bn In 30 Days–Report

Ololade Omosan-Agie

Investors in the Nigerian stock market gained N420bn in April as listed companies began releasing their earnings reports for the first quarter of the year.

The market capitalisation of equities rose to N20.85tn as of April 30 from N20.43tn at the end of March, data from the Nigerian Exchange Limited showed.

The All-Share Index of the Nigerian Stock Exchange increased to 39,834.42 basis points on April 30 from 39,045.13bps on March 31.

The NSE ASI and market capitalisation appreciated by 1.36 per cent last week to 39,834.42 and N20.85tn respectively.

All other indices finished higher with the exception of NSE CG, NSE Banking, NSE-AFR Bank Value, NSE AFR Div Yield, NSE MERI Value, NSE Consumer Goods, NSE Growth Index and NSE Sovereign Bond Index which depreciated by 0.15 per cent, 2.09 per cent, 1.87 per cent, 0.76 per cent, 2.77 per cent, 0.02 per cent 0.46 per cent and 7.09 per cent respectively, while the NSE ASeM Index closed flat.

A total turnover of 1.44 billion shares worth N10.88bn in 19,614 deals were traded last week by investors on the floor of the exchange, in contrast to a total of 1.60 billion shares valued at N42.14bn that exchanged hands in 19,507 deals the previous week.

The financial services industry (measured by volume) led the activity chart with 970.56 million shares valued at N6.78bn traded in 10,876 deals, thus contributing 67.36 per cent and 62.30 per cent to the total equity turnover volume and value respectively.

The conglomerates industry followed with 234.97 million shares worth N387.56m in 1,320 deals, while the third place was occupied by the consumer goods industry, with a turnover of 61.61 million shares worth N974.25m in 2,818 deals.

Trading in the top three equities, namely FBN Holdings Plc, Transnational Corporation of Nigeria Plc and Access Bank Plc (measured by volume), accounted for 603.94 million shares worth N2.96bn in 3,618 deals, contributing 41.91 per cent and 27.23 per cent to the total equity turnover volume and value respectively.

Thirty-six equities appreciated in price last week, compared to 39 in the previous week; 41 equities depreciated, compared to 24 in the previous week, while 85 equities remained unchanged, compared to 99 in the previous week.

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