Nigerian Stocks Post 7.19% Weekly Growth

April 20, 2020
Nigerian Stocks

By Modupe Gbadeyanka

Equities on the Nigerian Stock Exchange (NSE) appreciated by 7.19 percent last week amid bargain hunting by investors at the market.

The All-Share Index (ASI) increased in the week 22,921.59 points, while the market capitalisation rose to N11.946 trillion. Except the ASem index, which closed flat, all other indices finished higher.

In the four-day trading session, the transaction volume reduced to 1.5 billion equities from 2.4 billion shares, while the transaction value decreased to N12.9 billion from N19.9 billion, with the number of deals rising to 20,982 from 18,918.

Business Post’s analysis of the trading activities showed that financial stocks were the volume driver, recording 1.2 billion units worth N8.4 billion, thus contributing 82.82 percent and 65.33 percent to the total equity turnover volume and value respectively.

Equities in the healthcare industry traded 73.0 million units valued at N386.1 million in 465 deals, while shares in the consumer goods sector traded 48.6 million units worth N1.9 billion in 2,611 deals.

According to the NSE, Omoluabi Mortgage Bank, FBN Holdings and Zenith Bank accounted for 755.1 million shares worth N4.6 billion in 5,758deals, contributing 50.50 percent and 35.56 percent to the total equity turnover volume and value respectively.

A total of 37 equities appreciated in price during the week, higher than 35 equities in the previous week, while 21 equities depreciated in price, higher than 18 equities in the previous week, with 105 equities remaining unchanged, lower than 110 equities recorded in the preceding week.

Nigerian Breweries was the best performing stock, rising by 45.72 percent to close at N32.35 per share. Conoil gained 32.32 percent to close at N17.40 per share, Champion Breweries grew by 20.00 percent to finish at 96 per share, May & Baker rose by 18.64 percent to close at N2.61 per share, while Nestle Nigeria appreciated by 16.48 percent to finish at N967.00 per share.

On the flip side, NAHCO ended the week as the worst performing equity, depreciating by 11.25 percent to close at N2.13 per share. Ardova lost 10.22 percent to close at N10.10, Arbico fell by 9.82 percent to finish at N2.57 per share, John Hold declined by 8.93 percent to finish at 51 per share, while Cadbury Nigeria decreased by 8.70 percent to settle at N6.30 per share.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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