Activities on the equities market rebounded last week despite jitters in the political environment with investors recording N334 billion gains on their investment.
Specifically, at the close of trading on Friday, the equities capitalisation rose to N11.758 trillion as against N11.424 trillion in the previous week, representing 2.92 percent increase.
Similarly, the All Share Index, ASI, the major equity indicator, moved up by 2.92 percent to settle at 31,529.92 points, leading to reversal of outlook for the equities by capital market operators.
Majority of the operators are of the view that the market would sustain the rebound this week, while others advised investors to tread cautiously.
Analysis of sectorial activities showed that the NSE Banking Index, NSE Insurance Index, NSE Consumer Goods Index and NSE Oil/Gas Index closed in positive territory as they increased by 8.10 percent, 4.00 percent, 4.10 percent and 2.54 percent to 428.72 points, 126.86 points, 725.31 points and 286.18 points respectively.
However, NSE Industrial Index moderated by 0.66 percent to 1,262.09 points. Elsewhere, activity in the equities market increased as transaction volumes and Naira votes rose significantly by 30.42 percent and 81.79 percent to 1.89 billion shares and N26.88 billion; however, total deals marginally fell by 0.54 percent to19, 213 deals.
A total turnover of 1.894 billion shares worth N26.884 billion in 19,213 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 1.452 billion shares valued at N14.788 billion that exchanged hands penultimate week in 19,318 deals.
The financial services industry (measured by volume) led the activity chart with 1.498 billion shares valued at N19.724 billion traded in 12,581 deals; thus contributing 79.10 percent and 73.37 percent to the total equity turnover volume and value respectively.