Investors in the Nigerian stock market recorded N798bn appreciation on their holdings between Friday May 26 and June 2, the last day of trading last week. The stock exchange’s market capitalisation rose to N10.845tn from N10.047tn in one week.
The All-Share Index, closed at 31,371.63 basis points from 29,064.52 basis points. A total turnover of 2.319 billion shares worth N23.813bn in 22,310 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 1.877 billion shares valued at N20.055bn that exchanged hands the previous week in 19,979 deals.
The Financial Services Industry led the charts 1.950 billion shares valued at N15.479bn traded in 14,381 deals, while the consumer Goods Industry followed with 156.358 million shares worth N2.875bn in 2,804 deals. The third place was occupied by conglomerates industry with a turnover of 70.452 million shares worth N168.377m in 739 deals.
Traders on the floor of the stock exchange market said investors were gradually regaining their confidence in the country’s capital market.
They further implored the Central Bank of Nigeria and other regulators to remain consistent in their resolve to tackle the issues that had held down the economy and the capital market in particular in recent years.