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Published On: Sun, May 18th, 2014

NSE: Market indicators soar by 1.2%

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Stories from Ngozi Onyeakusi, Lagos

Driven by activity in the financial services sector, equity transaction on the floor of the Nigeria Stock Exchange last week soared as the twin market indicators recorded maximum appreciation.

Specifically, the (NSE) All-Share Index (ASI) and Market capitalization appreciated by 1.20 per cent to close on Friday at 39018.34 and N12.852.

All the NSE indices appreciated during the week with the exception of the NSE- ASeM that closed flat at 950.94 points.

The NSE 30 Index appreciated by 34.63 points to close at 1,772.95, NSE Banking index improved by 6.68 to 404.71 points, NSE Insurance index gained 0.77 to 142.61 points, NSE Consumer index 34.31 points to 989.56, NSE Oil and Gas index 0.88 to close at 323.85 points NSE Lotus II grew by 8.22 to close at 2,700.52 NSE Industrial goods increased by 13.36 points to 2,520.30 points.

Review of activity in the market showed that a turnover of 1.675 billion shares worth N20.861 billion in 24,513 deals were traded this week by investors in contrast to a total of 1.697 billion shares valued at N17.424 billion that exchanged hands in 22,096 deals the previous week.

The Financial Services Industry (measured by volume) led the activity chart with 1.192 billion shares valued at N11.260 billion traded in 14,410 deals; thus contributing 71.14% and 53.98% to the total equity turnover volume and value respectively.

The ICT Industry followed with a turnover of 214.189 million shares worth N107.677 million in 58 deals. The third place was occupied by the Consumer Goods Industry with 96.202 million shares worth N6.443 billion in 3,676 deals.

Trading in The Top Three Equities Namely- Mass Telecommunication Innovations Nigeria Plc, FCMB Group Plc and FBN Holdings Plc (measured by volume) accounted for 505.271 million shares worth N2.765 billion in 3,880 deals, contributing 30.16% and 13.25% to the total equity turnover volume and value respectively.

Thirty-seven (37) equities appreciated in prices during the week lower than Forty-two (42) equities of the preceding week. Thirty-six (36) equities depreciated in prices higher than Thirty-four (34) equities of the preceding week, while one hundred and twenty-six (126) equities remained unchanged higher than one hundred and twenty-three (123) of the preceding week.

Further review of the market indicated that Port Land Paints and Products Nigeria Plc led the gainers table in percentage terms, appreciating by 13.38 per cent or N0.59 kobo to close at N5.00, Cutix Plc followed with a gain of 11.67 per cent or N0.21 kobo to close at N2.01 kobo while Nigerian Breweries Plc gained 9.43 per cent or N14.05 kobo to close at N163.05 kobo. Other stocks that appreciated during the week were Ikeja Hotels Plc 8.62 per cent, Fidson Healthcare Plc 8.47 per cent, Trans Nation wide Express Plc 8.45 per cent, Airline Services and Logistics Plc 8.45 per cent, Fidelity Bank Plc 7.89 per cent, Ecobank Transnational Incorporated 7.69 per cent.

On the other hand, UACN Property Development Company Plc topped the losers chart for the week declining by 21.78 per cent or N5.01 kobo to close at N17.99 kobo, Custodian and Allied Plc trailed with a loss of 12.97 per cent or N0.38 kobo to close at N2.55 kobo while Mobil Oil Nigeria Plc shed 12.37 per cent or N16.81 kobo to close at N119.06 kobo.

Other stocks that recorded price depreciation were Courtville Investments Plc 11.27 per cent, Livestock Feeds Plc 9.80 per cent, R.T Briscoe (Nig) Plc 9.24 per cent, Royal Exchange Assurance 8.06 per cent, Seplat Petroleum Development Company Plc. 6.20 per cent and Skye Bank Plc 5.46 per cent.

Also traded during the week were a total of 10,329 units of Exchange Traded Products (ETPs) valued at N3.305 million executed in 18 deals compared with a total of 13,692 units valued at N363,198.90 transacted last week in 21 deals.

Similarly, 50,000 units of FGN bonds valued at N51.513 million were traded this week in 1 deal compared with 37,723 units of FGN bonds valued at N39.654 million transacted last week in 3 deals.


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