The Conglomerates Industry followed with 864.180 million shares worth N2.440 billion in 2,561 deals. The third place was occupied by Consumer Goods Industry with a turnover of 210.994 million shares worth N7.731 billion in 7,336 deals. During the week, it was recorded that 40 equities appreciated in price, lower than 66 of the previous week, while 32 equities depreciated in price, higher than seven equities of the previous week, while 100 equities remained unchanged higher than 99 equities recorded in the preceding week. “We observed a strong correlation between the historical movements in the NSE ASI and the crude oil price (Bonny Light). “Despite the 2017 equity market rally driven by a partial liberalization of the country’s exchange rate regime, the Nigerian Stock Exchange remains relatively undervalued.

Source: Nigerian Tribune January 22, 2018 02:36 UTC