By CHINEDU IBEABUCHI

*Stock market appreciates by N267.43bn
Retail trading in fixed income securities (bonds) official took off on the floor of the Nigerian Stock Exchange, NSE on Friday, with 510,000 units traded.

The securities were traded in 13 deals were  valued at N600,000 and cut across the three fixed income asset classes listed on the NSE’s official list, which include the FGN bonds, State Government bonds and corporate bonds.

In addition, the Over-The-Counter (OTC) market for fixed incomes recorded 610 units of FGN bonds valued at N76, 432 were traded in 14 deals. However, there were no transactions in the State/Local Government Bonds and Corporate Bonds/Debentures sectors.

Meanwhile, the value of shares listed (market capitalization) on the Exchange  appreciated by N267.4 billion last week to close at N10.37 trillion from N10.10 trillion it opened.

Also, the All-Share Index in the week under review rose by 2.62 per cent or 828.37 points to close at 32,411.86 points from 31,583.49 points.

Stocks experienced increased market volatility on Monday, dipping by 0.34 per cent to open the week on negative note as speculators scrambled for early profits. However, the key benchmark indices erased previous losses on Tuesday as market closed with moderate gains by 0.31 per cent on the back of renewed optimism.

Furthermore, market sustained the rally as the key benchmark indices climbed further on Wednesday and Thursday by 0.77 per cent and 0.12 per cent respectively on the back of growing commitments.

Subsequently, equities sustained healthy breadth on Friday as market traded above the line despite increased volatility to end the week with aggregate gain of 2.62 per cent.

A review of the equity price movement indicated that 55 equities appreciated while 27 equities recorded depreciation and one hundred and fifteen equities remained constant. When compared with the preceding week, 49 equities gained while 31 equities lost and one and hundred and seventeen equities remained constant.

Also, the volume of equities transaction in the week under review moved up by 8.10 per cent as 2.81 billion shares valued at N22.19 billion in 33,123 were traded compared with 2.61 billion shares valued at N19.51 billion exchanged in 27,186 deals penultimate week.

Financial Services sector emerged the most traded sector in the week in terms of volume. The volume traded in the sector this week alone closed at 2.24 billion shares valued at N14.76 billion and exchanged in 19,656 deals compared with 1.97 billion shares valued at N11.08 billion and exchanged in 16,303 deals in the preceding week. The volume traded in the sector accounted for 79.34 per cent of the entire market compared with 75.37 per cent of the ratio recorded last week.