Weekly Economic Index: Decline in the total turn over of shares at the stock market

Weekly Economic Index: Decline in the total turn over of shares at the stock market

The last week of December 2020 was another brief trading week as the federal government of Nigeria declared Monday, 28th December 2020 and Friday, 1st January 2021 as Public Holidays to celebrate Boxing day and the New Year respectively.

Meanwhile, a total turnover of 1.806 billion shares worth N25.966 billion in 14,634 deals was traded on the same week by investors on the floor of the Exchange, in contrast to a total of 2.756 billion shares valued at N40.311 billion that exchanged hands the week before in 17,459 deals.

Below is the Ventures Africa Weekly Economic Index for the week ending 31st of December 2020. This economic index gives you a glimpse into other recent activities in Nigeria’s economy as well as changes and prices that could affect the economy.

Nigerian Stock Exchange The NSE All-Share Index and Market Capitalization appreciated by 3.79 percent and 3.83 percent to close the week at 40,270.72 and N21.057 trillion respectively.

Similarly, all other indices finished higher with the exception of NSE Banking, AFR Bank Value, and Consumer Goods which depreciated by 0.56 percent, 0.02 percent and 0.50 percent while the NSE ASeM and NSE Growth Indices closed flat

Top five price gainers and decliners in the week under review:

Top five price gainers

> NEM Insurance Plc.

Japaul Gold & Ventures Plc.

Bua Cement Plc.

C & I Leasing Plc. Associated Bus Company Plc. Top five price decliners > FTN Cocoa Processors Plc. AIICO Insurance Plc. NCR (Nigeria) Plc. Trans-nationwide Express Plc. Ecobank Transnational Incorporated How did the Naira fare? The Naira depreciated against the dollar at the close of last week. The exchange rate declined to N382.53 per dollar on the 1st of January 2021 as against N381.40 recorded a week before. How did the price of oil fare? Brent oil prices closed out the week on the 31st of December 2020 at $51.80 per barrel, a slight increase from the $51.29 per barrel recorded a week earlier.

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