Value of 28 Equities Rises on NSE in Four Days

By Modupe Gbadeyanka

The value of 28 equities on the Nigerian Stock Exchange (NSE) increased in the four-day trading session of last week. This was higher than the 25 equities in the previous week, which had five sessions.

Also, in the week, a total of 20 stocks depreciated in price, lower than 33 equities in the previous week, while 115 shares remained unchanged, higher than 105 shares recorded in the preceding week.

Business Post reports that Ardova was the best performing stock, gaining 20.94 percent to close at N11.55 per share.

LASACO Assurance gained 12.50 percent during the week to close at 27 kobo per share, UAC Nigeria appreciated by 11.29 percent to finish at N6.90 per share, Vitafoam rose by 9.98 percent to close at N4.96 per share, while Chams gained 9.52 percent to close at 23 kobo per share.

On the flip side, Nigerian Breweries was the worst performing stocks, losing 13.04 percent to close at N30 per share.

Transcorp lost 10.81 percent to finish at 66 kobo per share, Eterna depreciated by 9.62 percent to close at N2.16 per share, Prestige Assurance declined by 9.09 percent to finish at 50 kobo per share, while Wema Bank lost 4.84 percent to close at 59 kobo per share.

In the week, the All-Share Index and market capitalisation both appreciated by 1.87 percent to close at 23,021.01 points and N11.997 trillion respectively.

All other indices finished higher with the exception of NSE Meri Growth, consumer goods and industrial goods, which depreciated by 0.88 percent, 1.42 percent and 0.47 percent respectively, while the ASeM index closed flat.

The volume of stocks traded during the week decreased to 1.0 billion units from 1.2 billion units, while the value of the traded shares fell to N9.9 billion from N14.0 billion, with the number of deals declining to 17,023 deals from 20,591 deals.

Shares in the financial services industry led the activity chart with 810.0 million units valued at N5.7 billion traded in 9,533 deals, contributing 80.06 percent and 57.28 percent to the total equity turnover volume and value respectively.

Equities in the industrial goods sector followed with 47.9 million units worth N1.7 billion in 1,920 deals, while stocks in the conglomerates industry traded 46.6 million units valued at N86.4 million in 550 deals.

A further analysis showed that FBN Holdings, UBA and Access Bank accounted for 414.6 million shares worth N2.3 billion in 3,189deals, contributing 40.98 percent and 23.15 percent to the total equity turnover volume and value respectively.