Nigeria’s equity market bubbles, closing the week with N45.8bn shares

The Nigerian Stock Exchange All-Share-Index recorded 5.11% week-on-week (wow) in the third week of the year at 45092.83 points, while market capitalization sized up to a present close of 15.69 trillion naira.

The trading sessions during the week all treaded along a positive lane with 51 basis points (bps), 217bps, 189bps and 55bps respectively save for Thursday, on profit taking, the equities market dropped by 9bps.

Five billion shares worth N45.82 billion in 44569 deals were traded in the week under review as compared to 5.02bn shares worth N68.97bn in 41543 deals traded the previous week.

The banking sector led the index performance chart with an index change of 8.50% (wow) to outperform the Insurance sector [3.84%(wow)] as large capitalisation stocks in both sectors were mostly responsible for the huge positive performance in the week under review.

Expectations are that this mood will continue in the next trading week as there is still more room for an upturn. though we might see a minimal drop to accommodate speculators on profit taking.