THE performance of Nigerian stocks in the second week of January was better than that of the first week, The ICIR checks have shown.

This is understandable given that many investors were returning from Christmas and New Year festivities in the first week, said Matthew Ibeabuchi, a stock market analyst.

The number of deals traded in the Nigerian Stock Exchange (NSE) in the second week of January grew 13.12 percent from the week before, according to a report by the NSE released on Monday.

A total turnover of 3.447 billion shares valued at 32.73 billion naira in 30,327 deals were traded last week by investors on the floor of the Exchange, as against 3.39 billion shares estimated at 19.87 billion naira traded the previous week in 26,808 deals.

The financial services industry (measured by volume) led the activity chart with 1.714 billion shares worth 13.352 billion naira traded in 15,102 deals. The industry contributed 49.74 percent and 40.80 percent to the total equity turnover volume and value respectively, said the NSE.

It was followed by the construction/real estate industry with 768.131 million shares valued at 4.203 billion naira in 430 deals.

Next was the conglomerates industry, which had a turnover of 279.799 million shares worth 578.694 million naira in 1,199 deals.

READ MORE: https://www.icirnigeria.org/how-nigerian-stocks-performed-in-second-week-of-january/