Equity market improves by N120bn

Activities at the nation’s equity market remained in an upward trend last week as  the Nigerian Stock Exchange (NSE) All Share Index (ASI) grew by 370.90 basis points. Specifically, the NSE ASI increased by 0.96 per cent to close at 39083.66 points against 38712.76 points traded the previous week. Similarly, the market capitalization of listed equities rose by N120 billion to close at N12.554 trillion from N12.434 trillion recorded in the preceding week.

All the NSE Indices appreciated during the week with the exception of the NSE industrial goods index which loss  by 21.22 to close at 2,514.39 .Nse Banking index gained 7.30 to close at 392.57, NSE Insurance index improved by 0,22 to close at 137.33, NSE Consumer goods rose by 13.97 points to 987.72, NSE Oil and Gas index 12.56 points to 314.71, NSE Lotus II  gained 39.61 points to  close at  2,809.39 while the NSE ASeM closed flat  at 952.39 points.  The  trading result for the week
the volume of stocks traded fell by 295 million or 15.22 per cent while value of equities traded rose
by N1.898 billion or 8.92 per cent.

Investors for the week exchanged a turnover of 1.642 billion shares worth N23.163 billion in 21,620 deals in contrast to a total of 1.937 billion shares valued at N21.264 billion that exchanged hands last week in 21,641 deals.

The financial services industry led the activity chart in volume terms with account of 1.375 billion shares valued at N14.241 billion traded in 12,596 deals, contributing 83.73 per cent and 61.48 per cent to the total equity turnover volume and value respectively. The conglomerates sector followed with a turnover of 108.548 million shares worth N597.556 million in 1,346 deals while the consumer goods industry came third with a total of 60.379 million shares worth N5.526 billion in 3,407 deals.

Trading in the top three equities namely- Zenith International Bank Plc, Access Bank Plc and Guaranty Trust Bank Plc accounted for 504.129 million shares worth N9.443 billion in 4,087 deals, indicating 30.70 per cent and 40.77 per cent to the total equity turnover volume and value respectively.
A review of transactions for the week showed that 33 equities appreciated in prices during the week against 32 recorded the preceding week.

The result also showed that 36 equities depreciated in price compared with 41 companies traded the previous week, while 129 equities remained unchanged against 125 of the preceding week.

An analysis of the investment showed that Forte Oil Plc led the gainers table for the week in percentage terms, appreciating by 27.37 per cent or N29.07 kobo to close at N135.27 kobo, Fidelity Bank Plc followed with a gain of 10.26 per cent or N0.20  kobo to close at N2.15 , while Cadbury Nigeria Plc enhanced by 9.72 per cent or N7.00 to close at N79.00. other stocks appreciated in price were UAC of Nigeria Plc 7.76 per cent, Prestige Assurance

Plc 7.14 per cent, Courtville Investments Plc 7.02 per cent, UBA Capital Plc 6.53 per cent, Cutix Plc 6.38 per cent, Nestle Foods Nigeria Plc 5.39 per cent. Conversely, University Press Plc topped losers chart, dropping by 15.33 per cent or N0.68 kobo to close at N15.53 kobo, Costain West Africa Plc trailed with a loss of 11.35 per cent or N0.16 kobo to close at N1.25 kobo while Ikeja Hotel Plc declined by  9.47 per cent or N0.18 kobo to close at N1.72 kobo. Other companies that recorded price appreciation were May &Baker Nigeria Plc 9.47 per cent, R.T Briscoe (Nig) Plc 8.33 per cent, Learn Africa Plc 8.25 per cent, Red Star Express Plc 6.49 per cent, Total FinaElf Nigeria Plc 6.31 per cent, Oando Plc 6.23 per cent, Vita foam Nigeria Plc 5.66 per cent.

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