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Equity market regains positive trend, appreciating by N438bn

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COMFORT EKELEME, Asst. Business Editor

The nation’s equity market last week returned to positive trend, appreciating by N438 billion.Market Capitalization of listed equities increased by 3.94 per cent to close the week at N11.562 trillion from N11.124 trillion recorded the previous week.

The Nigerian Stock Exchange (NSE) All Share Index(ASI) appreciated by 1174.47 basis points to 31005.17 points from 29830.70 points

Similarly, all other indices finished higher with the exception of the NSE Banking Index that depreciated by 1.04 per cent while the NSE ASeM index closed flat.

NSE Corporate Governance index added 9.35 to 1190.89 points, NSE Premium Index increased by 123.61 to 2,166.93, The NSE Main Board index added 32.15 to N1419.50, NSE 30 index grew by 35.01 to 1378.95, NSE Insurance went up by 6.39 basis points to 122.36, NSE Consumer Goods Index 9.14 basis points to 723.87, NSE Oil and Gas increased by 1.67 to 282.68 points, NSE Lotus II surged by137.01 basis points to 2,289.62 points, NSE Industrial Goods index advanced 151.83 to 1346.18 points while NSE Pension Index 24.14 basis points to 1,194.83 points.

Investors during the week exchanged a turnover of 1.270 billion shares worth N13.463 billion in 16,476 deals against a total of 1.265 billion shares valued at N14.074 billion that exchanged hands the previous week in 19,278 deals.

The Financial Services Industry led the activity chart in volume terms, accounting for 1.131 billion shares valued at N10.573 billion traded in 10,352 deals, contributing 89.06 per cent and 78.54 per cent to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 37.744 million shares worth N1.628 billion in 2,054 deals. The third place was Conglomerates Industry with a turnover of 37.699 million shares worth N102.918 million in 566 deals.

Trading in the top three equities namely, Diamond Bank Plc, Guaranty Trust Bank Plc and Zenith Bank Plc accounted for 696.955 million shares worth N8.509 billion in 3,753 deals, representing 54.86 per cent and 63.20 per cent to the total equity turnover volume and value respectively.

A review of transactions during the week showed that 38 equities appreciated in price higher than 22 in the previous week. The weekly report however showed that 29 equities depreciated in price, against 44 traded the preceding week, while 102 equities remained unchanged compared with 103 equities recorded in the preceding week.

NEM Insurance Plc led gainers table during the week, gaining 43.35 per cent or N0.75 kobo to close at N2.48 kobo, Sovereign Trust Insurance followed with a gain of 30.00 per cent or N0.06 kobo to close at N0.26 kobo while Royal Exchange Plc added 28.57 per cent or N0.06 kobo to close at N0.27 kobo.

Other Companies appreciated in price were Cement Company of Northern Nigeria 25.50 kobo, Custodian Investment Plc 21.70 per cent, Union Bank Nigeria Plc 12.50 per cent, Dangote Cement Plc 10.11 per cent, Regency Assurance Plc 10.00 per cent, Unity Bank Plc 9.64 per cent and Ikeja Hotel Plc.

On the contrary, Resort Savings and Loans Plc recorded the highest loss during the week, dropping by 29.73 per cent or N0.11 kobo to close at N0.26 kobo, Betaglass Plc trailed with a loss of 17.91 per cent or N12.00 to close at N55.00, Linkage Assurance Plc down by 13.85 per cent or N0.09 kobo to close at N0.56 kobo. Other firms depreciated in price were Berger Paint Plc 9.87 per cent, Etranzact International Plc 9.87 per cent, Nearest ASL Nigeria Plc 9.49 per cent, Livestock Feeds Plc 9.43 per cent, Northern Nigeria Flour Mills Plc 9.20 per cent, Cornerstone Insurance Plc 9.09 per cent while Wapic Insurance Plc 9.09 per cent.

Also traded during the week were a total of 55 units of Exchange Traded Products (ETPs) valued at N5,610.00 executed in 2 deals compared with a total of 15,288 units valued at N236,445.40 that was transacted last week in 4 deals.

A total of 3,573 units of Federal Government Bonds valued at N3.764 million were traded this week in 24 deals compared with a total of 17,996 units valued at N18.426 million transacted last week in 10 deals

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