Home Stocks & Shares Equity market on bullish trend, improving by N883b

Equity market on bullish trend, improving by N883b

Equity market sustains growth, gaining N83bn

Trading activities on the floor of Nigerian Stock Exchange ( NSE) last week continued in an upward trend, increasing by N883 billion.

The Stock market returned to bullish trend after the listing of MTN Nigeria Communications Plc shares at the exchange.

Specifically, market capitalisation of appreciated by 6.94 per cent to N13.601 trillion from N12.718 trillion reported the previous week.

The NSE All Share index (ASI) appreciated by 2009.36 to 30881.29 points from 28871.93 points recorded the previous week.​

Available data from the exchange showed that​ all other indices finished lower with the exception of the -, NSE 30, NSE Premium, NSE Insurance, NSE MERI Growth, NSE Lotus II and NSE Industrial Goods Indices that appreciated by – 0.81 per cent, 14.09 per cent 1.18 per cent , 1.42 per cent 3.45 per cent ​ and 6.12 per cent respectively.

NSE Main Board index fell by 22.26 basis points to 1249.33, NSE Corporate Governance index down by 10.49 to 1082.19 points, NSE Banking declined by 6.45 to 347.45, NSE Pension index sheds 19.58 to 1046.31 points, NSE ASeM Index dipped by 1.64 to 805.27, NSE AFR Bank Value index went down by 32.20 to 879.49 NSE AFR Div Yield index dropped by 29.13 to 1247.80 points.

A breakdown of the transactions during the week indicated that​ 30 equities appreciated in against 16 reported the previous​ week. The result revealed that 40 companies listed at the NSE ​ depreciated in price, compared with 42 ​ recorded the previous week, while 98 equities remained unchanged, lower than 109 firms recorded in the preceding week.

Thomas Wyatt Nigeria Plc led gainers table for the week, increasing by 29.03 or N0.09 kobo to close at N0.40 kobo, MTN Nigeria Communications Plc followed with a gain of 28.56 per cent or N31.10 kobo to close at N140.00, Dangote Cement PLC gained 13.64 per cent or N24.00 to close at N200. 00 . other firms appreciated in price were Mcnichols PLC 10.0 per cent, Fidson Healthcare Plc 9.78 per cent, Linkage Assurance Plc 9.09 per cent, University Press Plc 7.78 per cent Betaglass Plc 7.60 per cent,Vitafoam Nigeria Plc 7.59 per cent and NEM Insurance 7.27 per cent.

Consolidated Hallmark Insurance on the contrary, topped losers for the week, dropping by 20.69 per cent or N0.06 kobo to close at N0.23 kobo, Sterling Bank Plc trailed with a loss of 17.20 per cent or N0.43 kobo to close at N2.07 kobo, Academy Press Plc declined by 16.67 per cent or N0.05 kobo to close at N0.25 kobo. Other companies that recorded price depreciation were Neimeth International Pharmaceutical Plc 16.39 per cent, Livestock Feed Plc 15.63 per cent, Flour Mills Nigeria Plc 12.10 per cent, UACN Plc 11.64 per cent, Chams Plc 10.81 per cent, Access Bank Plc 10.08 kobo, E-tranzact International Plc 9.85 per cent.

The result further showed that a total of 7,832 units of Exchange Traded Products (ETPs) valued at N48,890.00 executed in 6 deals compared with a total of 18,181 units valued at N215,365.64 transacted last week in four deals.

A total of 1,389 units of Federal Government Bonds valued at N1.440 million were traded this week in 14 deals compared with a total of 10,366 units valued at N9.783 million transacted last week in nine deals.

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