Stock Transactions Raise Investors’ Hope

Though transactions on the floor of the Nigerian Stock Exchange (NSE) last week ended on a negative note, this week’s trading kicked off with a boost of investors hope.

The week opened with investors trading 578.03 million shares, valued at N4.3 billion in 7,744 deals, as against 410.8 million shares worth N3.5 billion that exchanged hands in 6.720 deals on Friday.

The boost that started the week’s trading was attributed to the price gains of some stocks in the market.

Market capitalisation also appreciated by N87 billion and closed at N10.5 trillion as against N10.4 trillion. All share index went up by 273.16 points, closing at 32,685.02 points, as against 32,411.86 points.

The upward movement continued into the week as all share index added 379.34 points to close at 33.064.37 points against 32,685.03 points.

Market capitalisation added N121 billion to N0.457 trillion, to close higher at N10.578 trillion.

With all the performance, investors are yet to fully return to the market, though NSE leadership is celebrating the capitalisation of over N10 trillion which was hard early 2012.

Marketers also await the performance of equities today to know their next line of action.