Home Stocks & Shares Equity market sustains growth, gaining N83bn

Equity market sustains growth, gaining N83bn

Equity market opens ​ week on negative note, sheds N5 bn

Trading activities at ​ the nation’s equity market last week remained up beat, as the Nigerian Stock Exchange (NSE) ​ market indicators appreciated by 0.61 per cent.

Specifically, Market capitalisation of listed equities grew by N83 billion to close on Friday at N13.684 trillion from N13.601 trillion reported the previous week.

The NSE All Share Index also increased by 188.08 basis points to 31069.37 points from 30881.29 points traded the preceding week.

Similarly,all other indices finished higher with the exception of the NSE MERI Value Index which depreciated by 0.14 per cent while the NSE ASeM Index closed flat. ​ The NSE main Board index grew by 18.01 to 1,267.54 points, NSE 30 index added 21.07 to to 1286.68, NSE Corporate Governance index rose by 20.96 to 1103.15, ​ NSE Premium index increased 0.53 to 2440.10, NSE Banking index gained 13.72 to 361.57, NSE Pension index went up by 19.80 to 1.066.11, NSE Insurance Index gained 3.80 to 119.81points, NSE- AFR Bank Value index surged by 36.09 to 915.58 points, NSE AFR Div Yield index up by 33.53 to 1281.33, NSE MERI Growth index rose by 33.81 to 1518.19 points, NSE Consumer Goods index increased by 8.17 to 630.93 points, NSE Oil and Gas index 5.51 to 262.58 points, NSE Lotus II 20.92 to 2103.92 points, ​ NSE Industrial Goods index grew by 14.56 to 1133.27 points.

The trading which opened for four days for inauguration day celebration showed that investors traded turnover of 1.082 billion shares worth N18.111 billion in 16,400 deals against ​ a total of 1.698 billion shares​

valued at N57.895 billion that exchanged hands previous week in 24,328 deals.

The Financial Services Industry led the activity chart with 809.990 million shares valued at N8.495 billion traded in 8,969 deals, contributing 74.84 per cent ​ and 46.91 per cent to the total equity turnover volume and value respectively. The ICT Industry followed with 69.705 million shares worth N5.411 billion in 1,754deals. The third position went to Healthcare Industry with a turnover of 45.971 million shares worth N14.262 million in 139 deals.

Trading in the top three equities- United Bank for Africa Plc, Access Bank Plc and Zenith Bank Plc in volume terms accounted for 351.014 million shares worth N3.737 billion in 4,088 deals, representing 32.43 per cent and 20.63 per cent to the total equity turnover volume and value respectively.​

A review of transactions for the week showed that 35 equities appreciated in price against 30 in the previous week. The NSE weekly also indicated that 24 companies depreciated in price, compared to 40 equities recorded the preceding week, while 109 listed firms ​ remained unchanged, higher than 98 equities reported in the preceding week

An analysis of the trading activities showed that Chams Plc led gainers table during the week, gaining 15.15 per cent or N0.05 kobo to close at N0.38 kobo, Sterling Bank followed with a gain of 11.11 per cent or N0.23 kobo to close at N2.30 kobo, Ecobank Transnational Incorporated appreciated by 10.95 per cent or N1.10 kobo to close at N11.15 kobo.

Other firms appreciated in price were Axamansard Insurance Plc gained 10.0 per cent, Learn Africa Plc 9.84 per cent, Neimeth International Pharmaceuticals Plc 9.80 per cent, Livestock Feeds Plc 9.26 per cent, Unity Bank Plc9.23 per cent, Law Union and Rock Insurance Plc 9.09 per cent and Courtville Business Solutions Plc 9.09 per cent.

On the contrary, Berger Paints Plc recorded the highest loss, during the week, declining 9.52 per cent or N0.70 kobo to close at N6.65 kobo, RT Briscoe Plc trailed with a loss of 9.38 per cent or N0.03 kobo to close at N0.32 kobo while Eterna Plc fell by 8.75 per cent or N0.35 kobo to close at N3.65 kobo.

Other companies that recorded price depreciation were Cap Plc 8.53 per cent, Champion Breweries Plc 8.18 per cent , Fidelity Bank Plc 7.18 per cent, Jaiz Bank Plc 6.12 per cent, Veritas Kapital Plc 4.76 per cent, PZ Cussons Nigeria Plc 4.71 per cent and Oando Plc 4.55 per cent.

Also traded during the week were a total of 290,130 units of Exchange Traded Products (ETPs)​

valued at N3.935 million executed in 16 deals compared with a total of 7,832 units valued at N48,890.00 transacted last week in 6 deals.

A total of 1,057 units of Federal Government Bonds valued at N1.060 million were traded this week​ in 7 deals compared with a total of 1,389 units valued at N1.440 million transacted last week in 14 deals.

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