Story from Ngozi Onyeakusi, Lagos
Driven by activity in the financial services industry, transaction on the floor of the Nigeria Stock Exchange (NSE) last week closed on a bullish trend as the market indicators ended high.
Specifically, the Market Capitalization of listed equities rose by 0.70% to close on Friday at N13.572 trillion compared to N13.478 trillion it opened with while the NSE All-Share Index equally ended up higher with 41,103.94 basis points against 40,819.72 basis points recorded last week.
Consequently, five indices appreciated during the week with the exception of the NSE Insurance Index (-0.51%), NSE Lotus II Index (-0.36%) and NSE Industrial Goods Index (-0.32%)
Meanwhile, it was a four-day trading week as the Federal Government of Nigeria declared Wednesday, October 1, 2014 as a public holiday to commemorate Nigeria’s 54th Independence Anniversary.
Review of activity in the market showed that a turnover of 2.588 billion shares worth N24.902 billion in 18,750 deals were traded by investors in contrast to a total of 1.586 billion shares valued at N26.921 billion that exchanged hands in 22,238 deals the previous week.
The Financial Services Industry (measured by volume) led the activity chart with 1.898 billion shares valued at N13.886 billion traded in 9,889 deals; thus contributing 73.34% and 55.77% to the total equity turnover volume and value respectively. The Natural Resources Industry followed with a turnover of 202.167 million shares worth 101.130 million in 8 deals. The third place was occupied by Services Industry with 128.071 million shares worth N255.342 million in 746 deals.
Trading in The Top Three Equities namely- Skye Bank Plc, Multiverse Plc and Zenith International Bank Plc (measured by volume) accounted for 1.392 billion shares worth N6.394 billion in 1,845 deals, contributing 53.80.% and 25.68% to the total equity turnover volume and value respectively.
Further review indicated that Forty (40) equities appreciated in prices during the week higher than thirty-three (33) equities of the preceding week. Thirty-four (34) equities depreciated in prices lower than forty-five (45) equities of the preceding week, while one hundred and twenty-six (126) equities remained unchanged higher than one hundred and twenty one (121) recorded in the preceding week.
Ikeja Hotel Plc led gainers table in per centage terms appreciating by 31.58 per cent or N0.48 kobo to close at N2.00, Champion Breweries followed with 27.32 per cent or N2.65 kobo or N2.65 kobo to close at N12.35 kobo while International Energy Insurance Company Plc gained 15.69 per cent or N0.08 kobo to close at N0.59 kobo. Other companies recorded price appreciation were Cement Company of Northern Nigeria Plc 11.31 per cent, Stanbic IBTC Holdings Plc 9.38 per cent, UACN Property Development company Plc 9.31 per cent, Skye Bank Plc 8.71 per cent, Royal Exchange Assurance Plc 7.27 per cent, Sterling Bank Plc 6.98 per cent and UBA Capital Plc 6.34 per cent.
On the contrary, R.T Briscoe on the contrary, topped losers chart dropping by 12.37 per cent or N0.12 kobo, May &Baker Nigeria Plc 9.95 per cent or N0.19 kobo to close at N1.72 kobo while Vono Products Plc loss 8.97 per cent or N0.14 kobo to close at N1.42 kobo. Other companies depreciated in price were Academy Press 5.71 per cent, Learn Africa Plc 5.71 per cent, Constain (West Africa) Plc 5.26 per cent, Premier Breweries Plc 4.97 per cent, UPDC Real Estate Investment Trust 4.93 per cent, Interlinked Technologies Plc 4.90 per cent and Custodian and Allied plc 4.88 per cent.
Also traded during the week were a total of 3,597 units of Exchange Traded Products (ETPs) valued at N147,560.65 executed in 15 deals compared with a total of 113,744 units valued at N2.427 million transacted last week in 22 deals
Similarly, there were a total of 10 units of Federal Government Bond valued at N11, 630.89 executed in 1 deal compared with a total of 100 units valued at N104, 398.48 executed in 1 deal transacted last week