The Nigerian stock market maintained its bullish momentum throughout last week, gaining N1.814 trillion, reflecting sustained investor confidence in blue-chip stocks and strong corporate earnings expectations.
The market capitalization of listed equities increased by 2.18 per cent to hit N85.055 trillion from N83.241 trillion reported the previous week.
The NGX All Share Index also appreciated by 2867.37 basis points to close at 134452.93 points, extending year to date return to 30.63 per cent.
Volume of transactions declined by 13.807 billion, representing 78.91 per cent as a total turnover of 3.691 billion shares worth N112.261 billion traded in 138,250 deals last week by investors in contrast to a total of 17.498 billion shares valued at N500.762 billion exchanged hands the previous week in 142,082 deals.
Market breadth closed strongly positive with 60 gainers against 43 losers, while 44 stocks closed flat.
An analysis of the transaction for the week showed that The initiates Plc led gainers table in percentage terms, appreciating by 60.82 per cent to N16.13 per unit, Academy press followed with a gain of 33.00 per cent to close at N2.31 per unit, Nigeria Enamel Ware added 32.68 per cent to close at N6.68 per share, while Wema Bank increased by 23.60 per cent to close at N3.80 per share.
On the contrary, Secure Electronic Tech topped losers chart dropping by 23.97 per cent to close at N0.92 per unit, Omatek Venture trailed with a loss of 23.93 per cent to close at N1.24 per unit, Meyers Paint fell by 21.43 per cent to close at N16.50 per share while Neimeth international Pharmaceutical down by 19.25 per cent to close at N6.50 per unit.
Trading during the week showed that the Financial Services Industry led the activity chart in volume terms with 2.127 billion shares valued at N47.298 billion traded in 57,121 deals; thus contributing 57.62% and 42.13 per cent to the total equity turnover volume and value respectively. The Agriculture Industry followed with 273.694 million shares worth N12.872 billion in 11,284 deals. Third place was the Oil and Gas Industry, with a turnover of 255.144 million shares worth N11.808 billion in 10,706 deals.
Trading in the top three equities, namely Access Holdings Plc, United Bank for Africa Plc and Japaul Gold & Ventures Plc, accounted for 745.391 million shares worth N19.457 billion in 15,720 deals, contributing 20.19 per cent and 17.33 per cent to the total equity turnover volume and value respectively.