Investment in the nation’s equity market last week closed in positive trend, gaining N151billion Specifically, market capitalisation of listed equities increased by 1.10 per cent to N13.866 trillion from N13.715 trillion reported the previous week.
The Nigerian Stock Exchange (NSE) All-Share Index also increased by 416.02 basis points to 38278.55 from 37862.53 points traded the previous week.
Similarly, all other indices closed higher with the exception of the NSE Banking and the NSE Oil/Gas Indices that depreciated by 1.09 per cent and 1.73 per cent respectively, while the NSE ASeM Index closed flat. NSE Corporate Governance Index rose by 15.27 to 1535.06, NSE Premium index added 12.44 basis points to 2,720.42.
The NSE Main Board Index grew by 28.13 to 1719.17, NSE 30 index appreciated by 17.13 to 1,739.08 pouts, NSE Insurance index climbed by 0.99 to 150.44 points, NSE Consumer Goods Index went up by 24.31 to 927.72 points, NSE Lotus II advanced by 73.42 to 2626.59 points, NSE Industrial Goods index went to 52.30 to 2008.70 points. NSE Pension index grew by 8.34 basis points to 1,490.07 points.
The result showed that investors traded a turnover of 2.004 billion shares worth N21.582 billion in 18,534 deals in contrast to a total of 1.097 billion shares valued at N15.471 billion that exchanged hands previous week in 16,288 deals.
The Financial Services Industry led the activity chart with 1.509 billion shares valued at N13.540 billion traded in 10,164 deals, contributing 75.32 per cent and 62.74 per cent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with account of 237.759 million shares worth N3.441 billion in 3,243 deals. The third place was occupied by conglomerates Industry with a turnover of 88.374 million shares worth N272.722 million in 777 deals.
Capital market operators said that in the month of July, it is expected that Market liquidity would received a boost with the expectation that there would be improved performance in the second quarter of the year, low valuation, implementation of the new pension clarification funding and the NSE’s new market structures. These are also expected to impact on the nation’s stock price movement favourable.
Operators said that volatility may likely continue as investors and fund managers reposition for the end of the quarter to earn good profit and commission as some equities remained under-valued.
The transactions for the week showed that trading in the top three equities namely – Union Bank of Nigeria Plc, Sterling Bank Plc and Wema Bank Plc accounted for 700.918 million shares worth N2.016 billion in 501deals, representing 34.98 per cent and 9.34 per cent to the total equity turnover volume and value respectively.
A review of the trading activities showed that 32 equities appreciated in price during the week, against 25 in the previous week. The result showed 39 equities depreciated in price, lower than 44 reported the previous week, while 98 equities remained unchanged against 100 equities recorded in the preceding week.
An analysis of the investment for the week showed that Unity Bank Plc led gainers table, growing by 10.23 per cent or N0.09 kobo to close at N0.97 kobo, Honey Well Flour Mills Nigeria Plc followed with a gain of 9.57 per cent or N0.20 kobo to close at N2.29 kobo, Law Union and Rock Insurance Plc gained 9.30 per cent or N0.08 kobo to close at N0.94 kobo. Other firms appreciated in price were Total Nigeria Plc 8.64 per cent, Stanbic IBTC Holdings Plc 6.67 per cent, Vitafoam Nigeria Plc 5.88 per cent, Lasaco Assurance Plc 5.88 per cent, Mutual Benefits Assurance Plc 5.71 per cent, Nestle Nigeria Plc 5.35 per cent, NEM Insurance Company Nigeria Plc 5.26 per cent.
On the contrary, Japaul Oil & Maritime Services topped losers chart, dropping by 23.40 per cent or N0.11 kobo to close at N0.36 kobo, Prestige Assurance Company Plc, trailed with a loss of 16.57 per cent or N0.11 kobo to close at N0.55 kobo, Equity Assurance Plc fell by 8.70 per cent or N0.02 kobo to close at N0.21 kobo.
Other companies that recorded the price depreciation include Linkage Assurance Plc 8.05 per cent, Diamond Bank Plc 6.54 per cent, Veritas Laural Assurance 6.45 per cent, Total Exchange Plc 5.71 per cent, Seplat Petroleum Development Company Plc 5.11 per cent, First aluminium Nigeria Plc 5.00 per cent, UACN Property Development Company Ltd 4.98 per cent.
Also traded during the week were a total of 4,211 units of Exchange Traded Products (ETPs) valued at N96,115.90 executed in 18 deals, compared with a total of 61 units valued at N899.80 that was transacted last week in 7 deals
A total of 6,108 units of Federal Government valued at N3.710 million were traded this week in 13 deals, compared with a total of 370 units valued at N371,261.96 transacted last week in 3 deals.
