The bull’s presence continues in the market this week after the newly listed MTN share pushed the market indices up last week. The All-Share Index (ASI) and Market Capitalization appreciated by 6.96% to close the week at 30,881.29 and N13.602 trillion respectively.
The ASI gained 2,010 points during the week under review moving from 28,871 points last week. While Market Capitalization gained by N885 billion from N12.7 trillion at the end of trading on 17th of May, 2019.
The week activities also saw the ASI recovered from its downward slides since 5th of April to a growth of 643 points representing a 2 percent growth over week 1, 2019 figures of 30,238 points. Market Capitalization also grew by N2.166 trillion representing 19 percent growth from the beginning of the year.
The Volume of shares traded during the week also increased by 526 million; Value of stocks traded increased by N40,008 billion while the number of deals consummated also increased by 6,008 from 18,320 to 24,328 as at week ended 24th May,2019.
The Financial Services Industry led the activity chart with 1.121 billion shares valued at N8.708 billion traded in 13,380 deals; thus contributing 66% and 15% and 53% to the total equity turnover volume, value and deals respectively.
The ICT Industry followed with 324.332 million shares worth N40.717 billion in 3,330 deals. The third place was Consumer Goods Industry with a turnover of 75.831 million shares worth N2.948 billion in 2,957 deals.
Trading in the Top Three Equities namely, MTN Nigeria Communications Plc, Sovereign Trust Insurance Plc (measured by volume) accounted for 726.103 million shares worth N41.622 billion in 4,972 deals, contributing 43% and 72% to the total equity turnover volume and value respectively.
No banks are among the top ten gainers this week while Sterling Bank Plc and Access Bank Plc were among the top ten price decliners at the NSE week ended 24th of May 2019 as their stocks declined by 43k and 65k to close at N2.07k and N5.80k respectively.