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Equity market closes higher, appreciating by N157bn

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Investment in the Nigerian Stock Exchange (NSE) last week closed in positive trend, increasing by N157 billion.Market capitalisation of listed equities appreciated by 1.36 per cent to N11.719 trillion from N 11.462 trillion reported the previous week.

The NSE All Share Index (ASI) also increased by 421.46 basis points to 31426.46 points from 31005.17 reported the preceding week.

Similarly, all other indices took upward trend with the exception of the NSE ASeM, NSE Consumer Goods, NSE Oil/Gas, NSE Lotus II and NSE Industrial Goods Indices that depreciated by 0.17 per cent, 0.41 per cent, 1.32 per cent, 0.60 per cent and 2.02 per cent respectively.

The NSE Corporate Governance Index increased by 43.40 to 1234.39, NSE Premium index added 25.50 basis points to 2192.43, the NSE main board index grew by 21.36 to 1440.86 points, NSE 30 index appreciated by 24.02 to 1402.97 points. NSE Banking index surged by 27.13 to 406.64 points, NSE insurance index added 3.39 to N124.75, NSE AFRICA Bank Value index advanced by 73.67 basis points to 1025.05 points , NSE AFR divi yield index 51.92 to 1417.15 while NSE Pension increased by 18.01 to 1212.84

A review of transactions during the day showed that 40 equities appreciated in price during the week, against 38 in the previous week. The result also showed that 25 equities depreciated in price, compared with 29 of the previous week, while 103 equities remained unchanged higher than 102 equities recorded in the preceding week.

An analysis of the investment indicated that Fidelity Bank Plc led gainers table, growing by 24.38 per cent or N0.49 kobo to close at N2.50 kobo, Caverton Offshore Support GRP followed with a gain of 22.63 per cent or N0.43 kobo to close at N2.33 kobo, FCMB group Plc gained 22.16 per cent or N0.39 kobo to close at N2.15 kobo.

Other companies appreciated in price were Access Bank Plc 16.07 per cent, Royal Exchange Plc 14.81 per cent, Red Star Express Plc 13.64 per cent, Wema Bank 12.90 per cent, First Alluminium Nigeria Plc 12.90 per cent, AIICO Insurance Plc 12.70 per cent and Linkage Assurance Plc 12.50 kobo

On the contrary, Resort Savings and Loans Plc topped losers chart, dropping by 23.08 per cent or N0.06 kobo to close at N0.20 kobo, Sovereign Trust Insurance trailed with a loss of 19.23 per cent or N0.05 kobo at N0.21 kobo, Medview Airline Airlines Plc down by 9.76 per cent or N0.20 kobo to close at N1.85 kobo. Other firms depreciated in price were Mcnichols Plc 9.30 per cent, Union Bank of Nigeria Plc 8.87 per cent, E- Tranzact. international Plc. 8.71 per cent, Consolidated Hallmark Insurance Plc 6.25 per cent, Fidson Healthcare Plc 5.05 per cent, Mutual Benefits Assurance Plc 4.76 per cent

Also traded during the week were a total of 34,341 units of Exchange Traded Products (ETPs) valued at N440,166.37 executed in 7 deals compared with a total of 55 units valued at N5,610.00 that was transacted last week in 2 deals.

A total of 3,498 units of Federal Government Bonds valued at N3.131 million were traded this week in 20 deals compared with a total of 3,573 units valued at N3.764 million transacted last week in 24 deals.

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