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Nigerian bourse sustains weekly momentum with N390bn gain

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Investors pocket N44bn as NGX halts weekly decline

It was a broadly bullish performance on the local bourse, with mild gains recorded in three of the four trading days last week.

Although, activity levels were weak, as volume and value traded plunged by 84.1 per cent and 28.1 per cent week-on-week (WoW) respectively, the market closed in the green territory with N390 billion profit nonetheless.

As transactions on the Nigerian bourse sustained weekly positive sentiment, the All-Share Index (ASI) and market capitalisation appreciated by 2.19 per cent to close the week at 34,885.51 basis points and N18.23 trillion respectively.

Similarly, all other indices finished higher, with the exception of NSE CG, NSE Banking, NSEAFR Bank Value, NSE AFR Div Yield, NSE MERI Growth and NSE Consumer Goods, which depreciated by 0.05 per cent, 1.31 per cent, 1.53 per cent, 0.38 per cent, 0.44 per cent and 0.5 per cent while the NSE ASeM Index closed flat.

A total turnover of 1.82 billion shares worth N25.79bn in 31,665 deals were traded last week by investors on the floor of the Exchange, in contrast to a total of 11.40 billion shares valued at N35.89bn that exchanged hands  the previous week in 39,265 deals.

The financial services industry (measured by volume) led the activity chart with 1.27 billion shares valued at N14.71bn traded in 18,392 deals, thus contributing 70.15 per cent and 57.04 per cent to the total equity turnover volume and value respectively.

The conglomerates industry followed with 217.17 million shares worth N231.81m in 1,226 deals. The third place was occupied by the consumer goods industry, with a turnover of 113.76 million shares worth N2.59bn in 4,568 deals.

Trading in the top three equities, namely Zenith Bank Plc, Transnational Corporation of Nigeria Plc and Access Bank Plc (measured by volume), accounted for 649.53 million shares worth N8.10bn in 6,395 deals, contributing 35.76 per cent and 31.42 per cent to the total equity turnover volume and value respectively.

Twenty-seven equities appreciated in price during the week, higher than 21 equities in the previous week; 43 equities depreciated in price, lower than 55 equities in the previous week; while 91 equities remained unchanged, higher than 85 recorded in the previous week.

A total of 471,624 units of Exchange-Traded Products valued at N4.22bn were traded last week in 88 deals, compared with a total of 21,455 units valued at N174.67m transacted the previous week in 15 deals.

A total of 9,697 units of bonds valued at N12.17m were traded last week in eight deals, compared with a total of 11,014 units valued at N15.26m transacted the previous week in 15 deals.

 

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