The Nigerian stock market continued to perform well last week, thanks to improved investor optimism.

As a result, despite profit-taking activity, investors won N10 billion as the market capitalization closed the week at N20.300 trillion, owing to the positive trend in the equities arena.

As a result, the Nigerian Exchange Limited’s (NGX) All-Share Index (ASI) gained 0.05 percent week on week (WoW) to settle at 38,962.28 basis points.

Sectoral performance was also positive. The NGX Insurance, NGX Oil & Gas and the NGX Industrial index gained by 1.75 per cent, 1.38 per cent and 0.23 per cent respectively to close at 187.24 points, 363.93 points and 1,959.04 points respectively. On the flip side, the NGX Banking and the NGX Consumer Goods indices fell by 0.43 per cent and 0.04 per cent respectively.

Market breadth for the week closed positive as 28 equities appreciated in price, 23 equities depreciated in price, while 104 equities remained unchanged. Pharma-Deko led the gainers table by 32.10 per cent to close at N2.14, per share. Nigerian Aviation Handling Company (NAHCO) followed with a gain of 15.13 per cent to close at N3.50, while Conoil went up by 14.09 per cent to close to N25.50, per share.

On the other side, SCOA Nigeria led the decliners table by 17.92 per cent to close at 87 kobo, per share. Presco followed with a loss of 8.18 per cent to close at N73.00 and Neimeth International Pharmaceuticals declined by 7.89 per cent to close at N1.75, per share.

Overall, a total turnover of 1.290 billion shares worth N13.921 billion in 16,745 deals were traded last week by investors on the floor of the Exchange, in contrast to a total of 856.289 million shares valued at N10.752 billion that exchanged hands the previous week in 15,663 deals.

The Financial Services Industry (measured by volume) led the activity chart with 978.172 million shares valued at N8.300 billion traded in 8,716 deals; contributing 75.80 per cent and 59.62 per cent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 62.006 million shares worth N1.187 billion in 2,546 deals, while Conglomerates Industry traded a turnover of 49.055 million shares worth N126.288 million in 589 deals.

Trading in the top three equities namely FBN Holdings (FBNH), United Bank for Africa (UBA) and Guaranty Trust Holding Company (GTCO), measured by volume accounted for 626.958 million shares worth N5.766 billion in 2,526 deals, contributing 48.58 per cent and 41.42 per cent to the total equity turnover volume and value respectively.

In spite of the huge investment in the water sector by the government and international organisations, water scarcity has grown to become a perennial nightmare for residents of Abeokuta, the Ogun State capital. This report x-rays the lives and experiences of residents in getting clean, potable and affordable water amidst the surge of COVID-19 cases in the state.
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