Equities on the Nigerian Stock Exchange continued its ascent last week on renewed investors’ appetite following the re-launch of the Forex market. Even though the first day of the week closed in red as investors resorted to taking profits, the second to fourth day saw the lead indicators close in green as market cap improved by N790 billion, while the fifth day of the week closed 1.36 percent lower as a result of reactions following the results of the BREXIT’s referendum.
The NSE All-Share Index and Market Capitalization however appreciated by 4.79 percent to close the week at 30,649.66 and N10.527 trillion respectively, while all other Indices finished higher during the week, with the exception of the NSE ASeM Index that closed flat.
Trading in the Top Three Equities namely – United Bank For Africa Plc, Zenith International Bank Plc and Guaranty Trust Bank Plc. (measured by volume) accounted for 887.282 million shares worth N12.894 billion in 7,483 deals, contributing 37.17 percent and 48.88 percent to the total equity turnover volume and value respectively.
A turnover of 2.387 billion shares worth N26.381 billion in 28,072 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 2.158 billion shares valued at N20.394 billion that exchanged hands previous week in 24,369 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.951 billion shares valued at N16.832 billion traded in 17,226 deals; thus contributing 81.75 percent and 63.80 percent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 223.156 million shares worth N477.064 million in 1,461 deals. The third place was occupied by the Consumer Goods Industry with a turnover of 91.705 million shares worth N6.253 billion in 4,433 deals.
Forty (40) equities appreciated in price during the week, lower than forty-four (44) equities of the previous week. Thirty-two (32) equities depreciated in price, higher than twenty-four (24) equities of the previous week, while one hundred and eight (108) equities remained unchanged lower than one hundred and twelve (112) equities recorded in the preceding week.
Also traded during the week were a total of 121,501 units of Exchange Traded Products (ETPs) valued at N90.716 million executed in 34 deals, compared with a total of 519,199 units valued at N6.582 million transacted last week in 42 deals, while a total of 9,439 units of Federal Government Bonds valued at N10.429 million were traded in 7 deals compared to a total of 4,170 units of Federal Government Bonds valued at N4.413 million transacted last week in 3 deals.