It was a 4 days week as the Federal Government of Nigeria declared Wednesday 29th of May 2019 a Public Holiday To mark the Inauguration Day celebration 2019.
The market however, appreciated yet again, making it the 3rd consecutive week of growth after a long downward trend. The All-Share Index (ASI) and Market Capitalization appreciated by 0.61% to close the week at 31,069 and N13.685 trillion respectively.
The ASI gained 188 points during the week under review moving from 30,881 points last week. While Market Capitalization gained by N83 billion from N13.6 trillion at the end of trading on 24th of May, 2019.
The week activities also saw the ASI year growth of 831 points representing a 3 percent growth over week 1, 2019 figures of 30,238 points. Market Capitalization also grew by N2.249 trillion representing 20 percent growth from the beginning of the year.
The Volume of shares traded during the week however decreased by 616 million; Value of stocks traded also decreased by N39,784 billion while the number of deals consummated decreased also by 7,928 from 24,328 to 16,400 as at week ended 31st May,2019.
The Financial Services Industry led the activity chart with 808.990 million shares valued at N8.495 billion traded in 8,969 deals; thus contributing 75% and 47% and 55% to the total equity turnover volume, value and deals respectively.
The ICT Industry followed with 69,705 million shares worth N5.411 billion in 1,754 deals. The third place was Healthcare Industry with a turnover of 45,971 million shares worth N14,262 million in 139 deals.
Trading in the Top Three Equities namely, United Bank for Africa Plc, Access Bank Plc and Zenith BNk Plc (measured by volume) accounted for 351.041 million shares worth N3.737 billion in 4,088 deals, contributing 32% and 21% to the total equity turnover volume and value respectively.
Sterling Bank Plc, Ecobank Transnational Incorporated and Unity Bank Plc are the 3 Banks among the top ten gainers this week with 23k, 110k and 6k gains to close at 207k, 1005k and 65k respectively. Fidelity Bank Plc and Jaiz Bank Plc were the only 2 Banks among the top ten price decliners at the NSE week ended 31st of May 2019 as their stocks declined by 13k and 3k to close at 181k and 49k respectively.