*The Nigerian equity market gains N607 billion in market capitalisation in the past week, on the strength of buying interest in large-cap stocks, including Access Corporation and MTN Nigeria Communications Plc

Alexander Davis | 绿帽献妻

The Nigerian equity market, in the past week, gained N607 billion in market capitalisation against the backdrop of invetsors鈥� buying interest in large-cap stocks, such as Access Corporation and MTN Nigeria Communications Plc.

The All-Share Index (ASI) appreciated by 1.06 percent to close at 97,456.62, while the market capitalisation rose by 1.10 percent to N56 trillion.

All other indices closed higher, except for the Growth Index, which saw a depreciation of 0.03 per cent, while the Alternative Securities Market Index remained flat.

Investor interest drove the upward swing in major stocks, such as Access Corporation, which gained 2.39 percent, and MTN Nigeria, which rose by 7.37 percent.

Across various sectors, the performance was bullish, with gains recorded in consumer goods (1.47 percent), insurance (1.59), industrial (0.17 percent), banking (5.12 percent), and oil & gas (two percent).

In terms of activity, the financial services industry led the charts, accounting for 1.71 billion shares valued at N26.99bn traded in 19,277 deals, contributing 66.05 per cent and 52.71 per cent to the total equity turnover volume and value, respectively.

Following closely was the oil and gas industry, which saw 332.83 million shares worth N12bn traded in 9,956 deals.

The Services industry ranked third with 鈥�146.189m shares valued at N530.544m traded in 3,404 deals.

During the week, 43,535 units valued at N13.476m were traded in 122 deals, up from the 23,881 units valued at N8.240m transacted in the previous week.

Overall, 52 equities appreciated, an increase from the 36 equities recorded in the previous week, as 31 equities saw price declines, compared to 46 in the prior week, while 68 remained unchanged, slightly lower than the 69 recorded earlier.

Meanwhile, the Federal Government鈥檚 savings bonds were listed on the Nigerian Exchange Limited.