Modupe Gbadeyanka
By Modupe Gbadeyanka
The Nigerian Stock Exchange (NSE) recorded another weekly gain last week as the All-Share Index (ASI) appreciated by 2.53 per cent while the market capitalisation appreciated by 2.55 per cent to close at 26,985.77 points and N14.105 trillion respectively.
According to data from the exchange, all other indices finished higher with the exception of the consumer goods sector, which depreciated by 0.75 per cent while ASeM index closed flat.
A total of 36 equities appreciated in price during the week, higher than 35 equities in the previous week and they were led by Total Nigeria, which gained 21.00 per cent to close at N96.80 per share.
Oando appreciated by 12.81 per cent to close at N2.29 per share, Sterling Bank gained 10.34 per cent to close at N1.28 per share, Champion Breweries gained 9.88 per cent to finish at 89 kobo per share, while Ikeja Hotel gained 9.78 per cent to end at N1.01 per share.
On the flip side, there were 15 price losers, lower than 28 of the previous week and they were led by Cornerstone Insurance, which depreciated by 15.49 per cent to end at 60 kobo per share.
University Press declined by 12.68 per cent to close at N1.24 per share, eTranzact decreased by 9.96 per cent to end at N2.35 per share, UAC Nigeria dropped 8.00 per cent to close at 92 kobo per share, while Nigerian Breweries lost 6.76 per cent to settle at N49.00 per share.
Business Post reports that in the four-day trading week, 112 equities remained unchanged, higher than 100 equities recorded in the previous week.
The reason for the shortage in the number of trading sessions last week was due to the public holiday observed on Thursday, October 1, 2020, to mark Nigeria’s 60th Independence Anniversary.
At the close of the week the next day, a total of 1.5 billion shares worth N16.9 billion in 17,882 deals were traded by investors in contrast to the 1.6 billion shares valued at N20.6 billion transacted the preceding week in 18,396 deals.
The financial services industry led the activity chart with 1.3 billion shares valued at N10.6 billion traded in 10,046 deals, contributing 84.29 per cent and 62.49 per cent to the total equity turnover volume and value respectively.
The conglomerates sector followed with 62.4 million shares worth N89.2 million in 453 deals, while the third place was the industrial goods industry, with a turnover of 55.2 million shares worth N3.0 billion in 1,752 deals.
Zenith Bank, Sterling Bank and United Bank for Africa (UBA) Plc accounted for 815.7 million shares worth N7.3 billion in 4,461 deals, contributing 53.22 per cent and 43.26 per cent to the total equity turnover volume and value respectively.
