Africa’s best performing stock market, the Nigerian Stock Exchange has seen its market capitalisation rising by N1.13trn to N22.187trn in the first 30 days of 2021, according to data analysed by THE WHISTLER.
Data provided by the Stock Exchange showed a 5.36 per cent increase in the Market Capitalisation after it closed at N22.187trn on Friday, January 29.
This is against the N21.057trn Market Capitalisation recorded as at the end of December 31, 2020.
The All-Share Index also rose by 5.32 per cent to 42,412.66 points, against the 40,270.72 points recorded on December 31, 2020.
The improved performance was largely attributed to gains recorded in medium and large capitalised companies.
In January, Africa’s most attractive stock market made a total turnover of 13.699 billion shares, valued at N106.46bn. This is out of a total of 121,450 deals recorded during the period.
A breakdown of the data showed that during the first week of January, a total of 3.394bn shares worth N19.867bn were recorded from 26,808 deals.
The NSE recorded a total turnover of 3.447 billion shares amounting to N32.725bn from 30,327 deals.
During the third week of January, an aggregate of 4.288 billion shares worth N25.884bn were recorded from 32,849 deals, while a turnover of 2.570 billion shares valued at N27.884bn were traded in 31,466 deals in the fourth week ending January 29.
The data further revealed that as at Friday, the top three equities which were Transnational Corporation of Nigeria, Union Bank of Nigeria Plc and Zenith Bank Plc accounted for 633.261 million shares worth N5.634bn in 3,947 deals.
The stocks contributed 24.64 per cent and 20.20 per cent to the total equity turnover volume and value respectively.
By the end of trade, the financial services industry by volume led the activity chart with 1.497 billion shares valued at N12.695bn traded in 14,324 deals.
This represents a total contribution of 58.22 per cent and 45.53 per cent to the total equity turnover volume and value respectively, week on week.
The conglomerates industry accounted for 363.263 million shares worth N821.428m in 1,722 deals, while the Consumer Goods Industry contributed a turnover of 220.759 million shares worth N3.953bn in 5,952 deals.