Market Capitalisation Closes at N12.9trn after 0.45% w-o-w Rise

By Modupe Gbadeyanka

It was a brief trading week as the federal government declared Tuesday, August 21 and Wednesday, August 22, 2018 as public holidays in commemoration of the Eid-eI-Kabir.

During the three-day trading week, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) and market capitalization appreciated by 0.45 percent to close the week at 35,426.17 points and N12.933 trillion respectively.

However, all other indices finished lower with the exception of the NSE Premium, NSE Insurance, NSE Lotus II and NSE Industrial Goods indices that rose by 3.15 percent, 0.78 percent, 1.10 percent and 1.96 percent respectively, while NSE ASeM Index closed flat.

During the week, 15 equities appreciated in price, lower than 16 in the previous week, while 45 equities depreciated in price, lower than 56 equities of the previous week, and 109 equities remained unchanged higher than 97 equities recorded in the preceding week.

Business Post reports that a total turnover of 968.947 million shares worth N10.246 billion in 9,654 deals were traded this week by investors on the floor of the NSE in contrast to a total of 1.147 billion shares valued at N12.546 billion that exchanged hands last week in 16,649 deals.

The Financial Services industry, measured by volume, led the activity chart with 874.023 million shares valued at N7.671 billion traded in 6,029 deals; thus contributing 90.20 percent and 74.87 percent to the total equity turnover volume and value respectively.

The Consumer Goods sector followed with 26.818 million shares worth N1.624 billion in 1,476 deals, while the third place was occupied by Oil and Gas industry with a turnover of 24.795 million shares worth N91.439 million in 752 deals.

Trading in the top three equities; United Bank for Africa, NEM Insurance and Zenith Bank, measured by volume, accounted for 503.965 million shares worth N4.629 billion in 1,992 deals, contributing 52.01 percent and 45.17 percent to the total equity turnover volume and value respectively.

Also traded  during the week were a total of 9,205 units of Exchange Traded Products (ETPs) valued at N201,119.15 executed in 4 deals, compared with a total of 1,793 units valued at N282,571.59 that was transacted last week in 9 deals.

A total of 152,741 units of Federal Government Bond valued at N179.381 million were traded this week in 13 deals compared with a total of 2,647 units valued at N2.725 million transacted last week in 17 deals.