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Published On: Mon, Jun 2nd, 2014

Market indicators soar by 4.1%

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From Ngozi Onyeakusi, Lagos

Driven by activity in the financial services sector, equity transactions on the floor of the Nigeria Stock Exchange last week saw the twin market indicators recording significant improvement.

Specifically, the NSE All-Share Index and Market Capitalization appreciated by 4.12% to close on Friday at 41,474.40 and N13.695 trillion respectively.

All the NSE indices appreciated during the week with the exception of the NSE ASeM index that closed flat. The NSE 30 index gained 78.85 basis points to close at 1,896.46 points, NSE Banking index grew by 30.89 to 443.06 points, NSE Insurance index appreciated by 0.12 basis points to 143.85, NSE Consumer Goods Index rose by 7.29 basis points to 1,031.79, Oil and gas index 12.79 to close at 386.96 while NSE Lotus II appreciated by 66.24 to close at 2,769.25 points and NSE Industrial goods index 84.20 basis points to 2,604.43 while the NSE ASeM index closed at flat 950.94 points

Moreover, the market opened for four days as the Federal Government of Nigeria declared Thursday May 29, 2014 a public holiday to mark the Democracy Day Celebrations. Meanwhile, a turnover of 1.901 billion shares worth N34.643 billion in 20,452 deals were traded this week by investors on the floor of The Exchange in contrast to a total of 1.869 billion shares valued at N23.917 billion that exchanged hands last week in 23,554 deals.

Review of activity in the market showed that the Financial Services Industry (measured by volume) led the activity chart with 1.416 billion shares valued at N19.317 billion traded in 10,795 deals; thus contributing 74.51% and 55.76% to the total equity turnover volume and value respectively. The Natural Resources Industry followed with a turnover of 105.017 million shares worth N52.601 million in 8 deals. The third place was occupied by the Oil and Gas Industry with 86.538 million shares worth N2.288 billion in 2,725 deals.

Trading in The Top Three Equities Namely- Zenith International Bank Plc, FBN Holdings Plc and Guaranty Trust Bank Plc (measured by volume) accounted for 679.118 million shares worth N15.528 billion in 4,521 deals, contributing 35.73% and 44.82% to the total equity turnover volume and value respectively

Further review indicated that Fifty-five (55) equities appreciated in prices during the week higher than Forty-two (42) equities of the preceding week. Twenty-one (21) equities depreciated in prices lower than Thirty-three (33) equities of the preceding week, while one hundred and twenty-four (124) equities remained unchanged same as one hundred and twenty-four (124) recorded in the preceding week.

Custodian and Allied Plc led gainers table in percentage terms growing by 16.07 per cent or N0.45 kobo to close at N3.25 kobo, Forte Oil Plc followed with a gain of 14.66 per cent or N27.34 kobo to close at N213.88 kobo while Ashaka Cement Plc advanced by 12.92 per cent or N2.57 kobo to close at N22.47 kobo. Other stocks that appreciated in price were UAC of Nigeria Plc 12.07 per cent , Ecobank Transnational Incorporated 11.04 per cent, FBN Holdins Plc 10.07 per cent, Fidson Health Care Plc9.38 per cent, Flour Mills Nigeria Plc 8.72 per cent, Access Bank Plc 8.60 per cent and First City Monument Group 8.59 per cent.

Caverton Offshore Support group Plc topped losers chart, shedding 22.93 per cent or N1.61 kobo to close at N5.41 kobo, Oando Plc declined by 8.95 per cent or N1.79 kobo to close at N18.21 kobo while Oando Plc 8.95 per cent or N1.79 kobo to close at N18.21 kobo. Other companies that recorded price depreciation were Airline Services and Logistics Plc 7.11 per cent, Prestige Assurance 7.02 per cent, Paints and Coatings Manufacturers Plc 6.67 per cent, Wema Bank Plc 6.06 per cent, John Holt Plc 4.96 per cent, Fortis Microfinance Bank Plc 4.94 per cent, Evans Medical Plc 4.81 per cent and Trans Nation wide Express 4.76 per cent

Also traded during the week were a total of 31,355 units of Exchange Traded Products (ETPs) valued at N700,587.60 executed in 13 deals compared with a total of 674 units valued at N127,162.83 transacted last week in 15 deals.


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