Capital Market Capitalisation Rises By N1trn In October
The month of October ended with impressive figures for Nigerian stocks as the market capitalisation added close to N1trn despite drop in the value of some stocks.
The market capitalisation grew by 4.68 per cent, an equivalent of N982bn to N21.93trn from the N20.956trn recorded in September.
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This is based on analysis of the Nigerian Exchange Limited’s weekly report seen by THE WHISTLER.
The NGX All-Share Index and Market Capitalisation also appreciated from 40,221.17 recorded in September to 42,038.60 in October.
The month of October saw a total turnover of 8.494 billion shares valued at N83.72bn in a total of 76,915 deals.
In September, the NGX recorded a total turnover of 5.759 billion shares valued at N53.929bn in 66,100 deals.
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The October rally on the NGX saw the financial services industry (measured by volume) leading other sectors with 1.6 billion shares valued at N15.6bn traded in 14,065 deals in the last week of the month.
The sector also led in September but generated lower trading figures compared to October.
In September, the financial services industry (measured by volume) traded 778.434 million shares valued at N5.591bn in 7,183 deals.
