55 Stocks Lift NSE Index by 1.78% in First Trading Week of 2018

By Modupe Gbadeyanka

The first trading week of 2018 on the floor of the Nigerian Stock Exchange (NSE) ended positive with the All-Share Index and market capitalization appreciating by 1.78 percent to close the week at 38,923.26 points and N13.851 trillion respectively.

Similarly, all other indices finished higher during the week with the exception of the NSE Premium, NSE ASeM and NSE Lotus II indices, which depreciated by 0.58 percent, 1.44 percent and 0.82 percent respectively.

During the four trading sessions in the week as a result of the public holiday declared by the Federal Government in commemoration of the new year celebration on Monday, January 1, 2018, a total of 55 equities appreciated in price, higher than 32 of the previous week, while 12 equities depreciated in price, lower than 25 equities of the previous week, and 105 equities remained unchanged, lower than 115 equities recorded in the preceding week.

Also during the week, a total turnover of 2.417 billion shares worth N18.813 billion in 20,874 deals were traded by investors on the floor of the NSE in contrast to a total of 1.310 billion shares valued at N12.635 billion that exchanged hands last week in 9,016 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.677 billion shares valued at N8.734 billion traded in 13,033 deals, contributing 69.39 percent and 46.43 percent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 536.922 million shares worth N1.258 billion in 1,288 deals, while the third place was occupied by Consumer Goods Industry with a turnover of 100.460 million shares worth N6.951 billion in 3,426 deals.

Trading in the top three equities namely – Transnational Corporation of Nigeria Plc, Diamond Bank Plc and Skye Bank Plc (measured by volume) accounted for 1.193 billion shares worth N1.681 billion in 2,957 deals, contributing 49.37 percent and 8.93 percent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 305,604 units of Exchange Traded Products (ETPs) valued at N3.498 million executed in 8 deals, compared with a total of 276 units valued at N9,865.34 that was transacted last week in 12 deals, while a total of 2,162 units of Federal Government Bonds valued at N2.016 million were traded this week in nine deals, compared with a total of 422,672 units valued at N 436. 190 million transacted last week in 20 deals.