Equity market rebound improving by N458bn

Stories by Amaka Ifeakandu

Trading activities on the floor of Nigerian Stock Exchange (NSE), last week took upward trend, increasing by N458 billion. Specifically, market capitalisation of listed equities improved by 3.47 per cent to N13.672 trillion from N13.214 trillion reported the previous week.
The NSE All Share index also appreciated by 1312. 93 basis points to 39257.53 points from 37944.60 points traded the preceding week. Similarly, all other indices finished higher during the week with the exception of the NSE ASeM, NSE Oil/Gas and the NSE Industrial Goods Indices that depreciated by 1.04 per cent, 0.47 per cent and 1.37 per cent respectively. NSE Premium index increased by 65.95 to 3718.47, The NSE main board grew by 67.85 to 1,724.86 points, NSE 30 index added 70.09 basis points to 1,785.27, NSE Banking Index went up by 25.12 to 495.86 points, NSE Insurance Index rose by 0.28 to 140.43 points, Consumer Goods Index increased by 56.39 to 974.75 points, NSE Lotus II advanced by 87.81 to 2529.40, NSE Pension Index improved by 100.10 basis points to 2,093.99 points. Investors for the week traded a turnover of 3.316 billion shares worth N36.451 billion in 29,771 deals in contrast to a total of 14.257 billion shares valued at N35.056 billion that exchanged hands last week in 17,379 deals.
The Financial Services Industry led the activity chart with 2.785 billion shares valued at N26.075 billion traded in 18,293 deals; thus contributing 83.97 per cent and 71.54 per cent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 247.639 million shares worth N1.330 billion in 1,333 deals. The third place was occupied by Consumer Goods Industry with a turnover of 185.560 million shares worth N5.976 billion in 6,137 deals. Trading in the top three equities namely – FBN Holdings Plc, Fidelity Bank Plc and Zenith International Bank Plc (measured by volume) accounted for 958.742 million shares worth N11.355 billion in 6,765 deals, contributing 28.91 per cent and 31.15 per cent to the total equity turnover volume and value respectively.
An analysis of the transactions for week showed that 47 equities appreciated in price against 39 of the previous week. The result showed that 20 equities depreciated in price, against 23 recorded the preceding week, 105 equities remained unchanged against 109 equities recorded in the preceding week.
Further analysis showed that FBNHoldings led gainers table for the week, growing by 26.33 per cent or N1.88 kobo to close at N9.02 kobo, Cadbury Nigeria Plc followed with a gain of 22.87 per cent or N2.98 kobo to close at N15.90 kobo, while Fidelity Bank gained 20.87 per cent or N0.43 kobo to close at N2.49 kobo. Other companies appreciated in price were Neimeth International Pharmaceuticals Plc 18.97 per cent, Union Bank of Nigeria Plc 15.97 per cent, Access Bank 15.50 per cent, FCMB group 14.78 per cent, Diamond Bank 14.29 per cent, Sterling Bank 13.00 per cent, Nascon Allied Industries Plc 11.91 per cent.
Total Nigeria Plc topped losers chart, dropping by 5.39 per cent or N12.99 kobo to close at N228.01 kobo, International Breweries trailed with a loss of 5.37 per cent or N3.22 kobo to close at N56.78 kobo, Chellarams Plc down by 4.94 per cent or N0.16 kobo to close at N3.08 kobo. Other firms depreciated in price were Guineas Nigeria pic 4.93 per cent, Studio Press Nigeria Plc 4.78 per cent, Axamansard Insurance Plc 4.65 per cent, Cement Company of Northern Nigeria Plc 3.75 per cent, Morrison industries Plc 3.64 per cent, Lafarge Africa 3.61 per cent, Julius Berger Nigeria Plc 3.57 per cent.
Also traded during the week were a total of 1.189 million units of Exchange Traded Products (ETPs) valued at N11.662 million executed in 30 deals, compared with a total of 1,090 units valued at N14,708.50 that was transacted last week in 10 deals.
A total of 5,240 units of Federal Government Bonds valued at N4.406 million were traded this week in 23 deals, compared with a total of 21,670 units valued at N23.125 million transacted last week in 17 deals.

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