The Nigerian equities market surged to a record high last week, following positive reactions from Federal Government’s plan to introduce flexibility into the foreign exchange management
Lead market indicator (ASI) having added 1,785.8 points or 6.6 percent in the course of the week, settled at 28,902.25 points. Although it began the previous week with a year-to-date (YTD) loss of 5.3 percent, the gains recorded pushed YTD returns to +0.91 percent.
In the same manner, market capitalization added N647.8 billion last week and appreciated by 6.58 percent to close the week at N9.926 trillion, while all other indices also finished higher during the week.
A turnover of 2.338 billion shares worth N14.789 billion in 24,942 deals were traded last week by investors on the floor of The Exchange in contrast to a total of 2.446 billion shares valued at N13.145 billion that exchanged hands previous week in 23,680 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.874 billion shares valued at N10.549 billion traded in 15,232 deals; thus contributing 80.16% and 71.33% to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 225.806 million shares worth N351.338 million in 1,462 deals. The third place was occupied by the Consumer Goods industry with a turnover of 64.001 million shares worth N1.430 billion in 3,444 deals.
Trading in the Top Three Equities namely – FBN Holdings Plc, United Bank For Africa Plc and Transnational Corporation of Nigeria Plc.(measured by volume) accounted for 810.444 million shares worth N2.904 billion in 5,128 deals, contributing 34.67% and 19.64% to the total equity turnover volume and value respectively.
Last week, Fifty-six (56) equities appreciated in price, higher than thirty-five (35) equities of the previous week. Twenty (20) equities depreciated in price, lower than thirty-seven (37) equities of the previous week, while one hundred and four (104) equities remained unchanged lower than one hundred and nine (109) equities of the previous week.
Also traded during the week were a total of 537,969 units of Exchange Traded Products (ETPs) valued at N56.655 million executed in 43 deals, compared with a total of 307,411 units valued at N21.406 million transacted last week in 38 deals.
A total of 4,000 units of Federal Government Bonds valued at N4.438 million were traded in 8 deals compared to a total of 4,143 units of Federal Government valued at N4.248 million transacted last week in 8 deals.