Investors mop conglomerates’ stocks to lead turnover by 80% Press "Enter" to skip to content

Investors mop conglomerates’ stocks to lead turnover by 80%

….As Fidelity, Forte Oil led gainers
Against the usual tradition of the financial sector leader activity table of the Nigerian stock Exchange (NSE), the trend changed last week as the conglomerates sector emerged market leader.

This led to growth recorded in market performance measuring indices, as the NSE All-Share Index and Market Capitalization appreciated by 1.55% and 1.58 per cent to close the week at 37,944.60 and N13.215 trillion respectively.

Meanwhile, for the four days of trading the week ended Thursday 30th November 2017, a total turnover of 14.257 billion shares worth N35.056 billion in 17,379 deals were traded by investors on the floor of the Exchange in contrast to a total of 2.182 billion shares valued at N22.795 billion that exchanged hands in the preceding week in 17,019 deals.

It was a four-day trading week as the Federal Government of Nigeria declared Friday, 1 December, 2017 as a Public Holiday to mark Eid-el-Maulud celebration.

The Conglomerates Industry measured by volume led the activity chart with 11.396 billion shares valued at N14.534 billion traded in 890 deals; thus contributing 79.94 per cent and 41.46% to the total equity turnover volume and value respectively.

The Financial Services Industry followed with 2.484 billion shares worth N9.797 billion in 9,205 deals. The third place was occupied by Consumer Goods Industry with a turnover of 164.156 million shares worth N8.127 million in 4,405 deals.

Trading in the Top Three Equities namely, Transnational Corporation of Nigeria (TransCorp), Wapic Insurance and Fidelity Bank, measured by volume accounted for 12.998 billion shares worth N15.494 billion in 1,813 deals, contributing 91.17% and 44.20% to the total equity turnover volume and value respectively.

Also traded during the week were a total of 1,090 units of Exchange Traded Products (ETPs) valued at N14,708.50 executed in 10 deals, compared with a total of 127 units valued at N13,837.30 that was transacted last week in 5 deals.

During the week, a total of 21,670 units of Federal Government Bonds valued at N23.125 million were traded this week in 17 deals, compared with a total of 9,024 units valued at N9.485 million transacted last week in 15 deals.

The NSE All-Share Index and Market Capitalization appreciated by 1.55% and 1.58% to close the week at 37,944.60 and N13.215 trillion respectively.

Similarly, all other indices finished higher during the week with the exception of the NSE ASeM Index that closed flat.

Equities advancers table for the week showed that 39 equities appreciated in price during the week, higher than 36 of the previous week.

The decliners table showed that 23 equities depreciated in price, lower than 24 equities of the previous week, while 109 equities remained unchanged lower than one 111 equities recorded in the preceding week.

Bonny Amadi

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