The Nigerian stock market reversed some of its recent losses last week as the market capitalisation rose above the N20tn mark.

The Nigerian stock market reversed some of its recent losses last week as the market capitalisation rose above the N20tn mark.

The Nigerian Exchange Limited All-Share Index and market capitalization appreciated by 1.23 per cent to close the week at 38,726.10 and N20.19tn respectively.

All other indices finished higher with the exception of NSE Consumer Goods, NSE Oil/Gas and NSE Sovereign Bond which depreciated by 0.37 per cent, 0.79 per cent and 0.74 per cent respectively, while the NSE ASeM and NSE Growth Indices closed flat.

A total turnover of 1.08 billion shares worth N9.55bn in 17,933 deals were traded last week by investors on the floor of the Exchange, in contrast to a total of 1.037 billion shares valued at N9.47bn that exchanged hands in 17,577 deals the previous week.

The financial services industry (measured by volume) led the activity chart with 767.00 million shares valued at N4.36bn traded in 9,447 deals, thus contributing 70.86 per cent and 45.63 per cent to the total equity turnover volume and value respectively.