NSE: Market closes on bullish trend, grows by N373bn



Transactions on the floor of the Nigerian Stock Exchange (NSE) last week closed in bullish trend as the equity value grew by N373 billion. Specifically, the market capitalization of listed equities increased by 2.97 per cent to N12.927 trillion from N12.554 trillion recorded in the preceding week.
Also, the NSE All Share Index (ASI) went up by 227.94 basis points to 39,311.60 points from 38,083. 66 traded the previous week.

The NSE weekly report showed that all the NSE Indices appreciated during the week with the exception of the NSE consumer goods index and NSE-Lotus II that shed 0.76 per cent and 0.84 per cent respectively to 980.20 points and 2,785.83 points. The NSE 30 index increased by 5.93 per cent to 1,767.51 points, NSE banking index grew by 4.48 per cent to 397.05 , NSE Insurance index rose by 0.64 per cent to 137.97, NSE Oil and gas improved by 8.67 per cent to 323.38 points, NSE Industrial goods went up by 36.83 per cent to 2,551.22 while the NSE ASeM remained constant at 952.39 points.

The trading which took place only four working days following public holidays declared for 2014 to mark “Good Friday” and Easter  saw investors exchanging  a turnover of 1.532 billion shares worth N14.309 billion in 17,704 deals against  a total of 1.642 billion shares valued at N23.163 billion that exchanged hands the previous week in 21,620 deals.
The financial services industry
led the activity chart in volume terms with account of 1.327 billion shares valued at N10.388 billion traded in 10,582 deals, contributing 86.67 per cent  and 72.60 per cent to the total equity turnover volume and value respectively. The conglomerates sector followed with a turnover of 102.919 million shares worth N578.971 million in 1,198 deals while consumer goods industry
came third in the activity chart, recording  28.978 million shares worth N1.727 billion in 2,218 deals. Trading in the top three equities – United Bank for Africa Plc, UBA Capital Plc and Transnational Corporation of Nigeria Plc accounted for 800.380 million shares worth N4.765 billion in 2,373 deals, indicating  52.26 per cent and 33.30 per cent to the total equity turnover volume and value respectively.
A summary of price movement for the week showed that 31 equities appreciated in prices during week against 33 stocks of the preceding week.

The result further revealed that 42 listed firms depreciated in prices
compared with 36 recorded the previous week, while 125 equities remained unchanged  against 129 of the preceding week.
An analysis of the investment showed that Honeywell Flour Mills Plc led the gainers table in percentage terms, appreciating by 11.30 per cent or N0.40 kobo to close at N4.94 kobo, A.G Leventis (Nigeria) Plc followed with a gain of 10.49 per cent or N0.15 kobo to close at N1.58 kobo while Forte OlPlc enhanced by 10.14 per cent or N13.72 kobo to close at N148.99 kobo. Other stocks that appreciated in price during the week were Courtville Investments Plc 9.84 per cent, University Press Plc 9.46 per cent, R.T Briscoe Nigeria Plc 9.09 per cent, Ikeja Hotel Plc 7.02 per cent, Access Bank of Nigeria Plc 6.17 per cent, CAP Plc  5.96 per cent and VitafoamNigeria Plc 5.0 per cent.

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