Dipo Olowookere
By Dipo Olowookere
The Nigerian Stock Exchange (NSE) closed last week on a positive note for the second consecutive time with a gain of 1.36 percent.
The market ended with the All-Share Index and market capitalisation appreciated by 1.36 percent to close at 31,426.63 points and N11.719 trillion respectively.
Also in the week, all other indices finished higher 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 percent, 0.41 percent, 1.32 percent, 0.60 percent and 2.02 percent respectively.
Data from the NSE showed that 40 equities appreciated in price during the week, higher than 38 in the previous week, 25 equities depreciated in price, lower than 29 of the previous week, and 103 equities remained unchanged, higher than one 102 equities recorded in the preceding week.
Business Post reports that Fidelity Bank topped the gainers’ chart after appreciating by 24.38 percent in the week, closing at N2.50k per unit.
Caverton rose by 22.63 percent to end at N2.33k per share, while FCMB grew by 22.16 percent to settle at N2.15k per share.
Conversely, Resort Savings and Loans ended as the worst performing stock, losing 23.08 percent to end at 20 kobo per unit.
It was followed by Sovereign Trust Insurance, which went down by 19.23 percent to settle 21 kobo per unit, and Medview Airline, which declined by 9.76 percent to finish at N1.85k per share.
In the week, a total turnover of 1.8 billion shares worth N17.2 billion in 18,332 deals were traded by investors on the floor of the local exchange in contrast to a total of 1.3 billion shares valued at N13.5 billion that exchanged the previous week in 16,476 deals.
The Financial Services sector (measured by volume) led the activity chart with 1.6 billion shares valued at N14.7 billion traded in 11,778 deals, contributing 89.93 percent and 85.28 percent to the total equity turnover volume and value respectively.
The Conglomerates industry followed with 83.6 million shares worth N138.3 million in 951 deals, while the third place was Consumer Goods space with a turnover of 36.3 million shares worth N1 billion in 2,224 deals.
Trading in the top three equities; Diamond Bank, Access Bank and Guaranty Trust Bank GTBank), measured by volume, accounted for 871.5 million shares worth N8.5 billion in 3,305 deals, contributing 48.23 percent and 49.25 percent to the total equity turnover volume and value respectively.
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 a week earlier in 2 deals.
In addition, a total of 3,498 units of Federal Government Bonds valued at N3.131million were traded in the week in 20 deals compared with a total of 3,573 units valued at N3.764 million transacted the previous week in 24 deals.
