Published On: Mon, Sep 19th, 2016

Equity market up by 1.02%

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Stories from Ngozi Onyeakusi, Lagos

Driven by activity in the financial services industry, transaction on the floor of the Nigeria Stock Exchange (NSE) last week ended on a bullish noted as market indicators ended high.

Specifically, the NSE All-Share Index appreciated by 1.02% to close at 27,858.48 basis points from 27,577.52 basis points it opened with while the Market Capitalization of listed equities as well increased by 1.02% to close at N9.570 trillion from N9.473 trillionrecorded the previous week.

Similarly, all other Indices finished higher during the week, with the exception of the NSE Banking Index, and the NSE Insurance Index that depreciated by 0.92% and 1.04% respectively while the NSE ASeM Index closed flat.

Meanwhile, it was a three-day trading week as the Federal Government of Nigeria declared Monday 12th and Tuesday 13th of September, 2016 as Public Holiday in commemoration of the Eid-el-Kabir Sallah Celebration.

Review of activity in the market showed that a turnover of 611.527 million shares worth N5.495 billion in 9,650 deals were traded by investors in contrast to a total of 1.183 billion shares valued at N10.300 billion that exchanged hands in 16,522 deals the previous day.

The Financial Services Industry (measured by volume) led the activity chart with 517.964 million shares valued at N2.933 billion traded in 5,931 deals; thus contributing 84.70% and 53.37% to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 30.470 million shares worth N1.488 billion in 1,561 deals. The third place was occupied by the Conglomerates Industry with a turnover of 27.836 million shares worth N55.012 million in 395 deals.

Trading in the Top Three Equities namely – FCMB Group Plc, FBN Holdings Plc and Guaranty Trust Bank Plc (measured by volume) accounted for 241.961 million shares worth N1.895 billion in 2,242 deals, contributing 39.57% and 34.49% to the total equity turnover volume and value respectively.

Also traded during the week were a total of 945 units of Exchange Traded Products (ETPs) valued at N9,541.90 executed in 18 deals, compared with a total of 943 units valued at N1.357 million transacted last week in 28 deals.

A total of 1,700 units of Federal Government Bonds valued at N1.591 million were traded in 2 deals compared to a total of 9,140 units of Federal Government Bonds valued at N9.198 million transacted last week in 6 deals.

Thirty-four (34) equities appreciated in price during the week, higher than twenty- four (24) equities of the previous week. Twenty-six (26) equities depreciated in price, lower than thirty- eight (38) equities of the previous week, while one hundred and twenty (120) equities remained unchanged higher than one hundred and eighteen (118) equities recorded in the preceding week.

Conoil Plc. led the gainers table in percentage terms gaining 33.84 per cent or N8.05 to close at N31.84 followed by Unilever Nigeria Plc. 14.23 per cent or N5.75 to close at N46.00 and Africa Prudential Registrars Plc. 13.71 or N0.34 to close at N2.82 among others.

On the other hand, Neimeth International Pharmaceutical Plc. led the decliners chart losing 8.42 per cent or N0.10 to close at N1.08 followed by AIICO Insurance Plc. 7.46 per cent or N0.05 to close at N0.62 and Transnational Corporation of Nigeria Plc. 7.14 or N0.08 to close at N0.04 among others.


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