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Equity market rebound, gaining N443bn in five days

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COMFORT EKELEME

Despite election odds, the nation’s stock market recorded another rebounding session last week, appreciating N442 billion.

The Nigerian Stock Exchange (NSE) weekly report showed that market capitalisation of listed equities appreciated by 3.8 per cent to N12.20 trillion from N11.851 trillion reported the week.

The NSE All Share Index (ASI) appreciated by 1185.28 basis points to 32715.20 points from 31529.92 traded the previous week. The result showed all other indices close higher during the week. NSE Corporate Governance gained 38.61 to 1316.94, NSE Premium index added 93.84 to 2255.10, The NSR Main Board index increased by 48.54 to 1514.11 points, NSE ASeM Index gained 1.37 to 793.13 points, NSE 30 index 63.34 to 2485.14, NSE Banking Index grew by 6.83 to 435.55, NSE Insurance index went up by 1.92 to 128.78 points, NSE AFR Bank Value Index surged by 6.41 per cent to 1,090.49 , NSE AFR Div Yield Index added 13.63 to 1485.97 points and NSE Consumer Goods advanced by 39.26 basis points to 764.57 points. NSae Oil and Gas increased by 16.99 to 303.17, NSE Lotus II gained 86.99 to 2340.53 points, NSE industrial Goods Index soars by 20.44 to 1282.53 points while NSE Pension index added 44.74 to 1264.17 points.

The NSE trading activities showed that investors traded turnover of 2.834 billion shares worth N28.138 billion in 28,739 deals in contrast to a total of 1.894 billion shares valued at N26.884 billion that exchanged hands the previous week in 19,213 deals.

The Financial Services Industry led the activity chart during the week with 2.261 billion shares valued at N20.117 billion traded in 17,838 deals; contributing 79.76 per cent and 71.49 per cent to the total equity turnover volume and value respectively.

The Conglomerates Industry Industry followed with 292.191 million shares worth N525.329 million in 1,948 deals. The third position was Consumer Goods with a turnover of 116.843 million shares worth N2.525 million in 4,114 deals.

Trading in the top three equities- Diamond Bank Plc, Access Bank Plc and Transnational Corporation of Nigeria Plc accounted for 1.116 billion shares worth N3.707 billion in 4,179 deals, representing 39.39 per cent and 13.18 per cent to the total equity turnover volume and value respectively.

A review of the investment during the week indicated that 60 equities appreciated in price against 53 recorded in the previous week. The result however showed that 21 companies depreciated in price, the same with 21 equities of the previous week, while 87 firms remained unchanged lower than 94 equities recorded in the preceding week.

An analysis of the transaction revealed that Wema Bank Plc led gainers table during the week, appreciating by 45.07 per cent or N0.32 kobo to close at N1.03 kobo, Livestock Feeds Plc followed with a gain of 44.00 or N0.22 kobo to close at N0.72 kobo, Dangote Flour Mills Plc appreciated by 33.58 per cent or N2.30 kobo to close at N9.15 kobo. Other firms appreciated in price were Transnational Corporation of Nigeria Plc 28.57 per cent, Royal Exchange Plc 26.92 per cent, Oando Plc 20.00, Unilever Nigeria Plc 17.57 per cent, Unity Bank Plc 17.53 per cent, Mutual Benefits Assurance Plc 17.39 per cent, Jaiz Bank Plc 15.09 per cent

On the contrary, C & I Leasing recorded the highest loss during the week, dropping by 18.92 per cent or N1.71 kobo to close at N7.33 kobo, MRS Oil Nigeria Plc trailed with a loss with 9.94 per cent or N2.30 kobo to close at N20.85 kobo, Academy Press Plc declined by 9.76 per cent or N0.04 kobo to close at N0.37 kobo. Other listed companies recorded price depreciation were Medview Airlines Plc 8.11 per cent,UACN Plc 7.49 per cent, Total Nigeria Plc 7.20 per cent, UACN Property Development Company Plc 6.67 per cent, First Aluminium Nigeria Plc 6.45 per cent, Sterling Bank Plc 6.00 per cent, Forte Oil Plc 5.72 per cent.

Also traded during the week were a total of 1.271 million units of Exchange Traded Products (ETPs) valued at N9.782 million executed in 7 deals compared with a total of 6,590 units valued at N55,711.29 that was transacted last week in 2 deals.

A total of 1,460 units of Federal Government Bonds valued at N1.472 million were traded this week in 9 deals compared with a total of 2,668 units valued at N2.886 million transacted last week in 14 deals.

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