07 Jun Equities Market Rebounds from May fall
The Nigerian stock market last week recovered from the fall in May as investors took advantage of low prices of shares. The Nigerian Exchange (NGX) Limited All-Share Index (ASI) appreciated by 1.23 per cent to close at 38,726.10, while market capitalisation closed higher at N20.185 trillion.
Investors traded 1.082 billion shares worth N9.548 billion in 17,933 deals last week, in contrast to a total of 1.037 billion shares valued at N9.471 billion that exchanged hands in 17,577 deals two weeks ago.
The Financial Services Industry led the activity chart with 767.001 million shares valued at N4.356 billion traded in 9,447 deals, thus contributing 70.8 per cent and 45.6 per cent to the total equity turnover volume and value respectively.
Trading in the top three equities namely Sovereign Trust Insurance Plc, Zenith Bank Plc and Veritas Kapital Assurance Plc accounted for 235.953 million shares worth N1.820 billion in 1,654 deals.
Thirty-three equities appreciated in price during the week, higher than 32 in the previous week, just as 33 equities depreciated in price higher than 30 equities in the previous week.
University Press Plc led the price gainers with 43 per cent, while CWG Plc led the price losers, shedding 26 per cent.
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