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Equity market records 0.99% gains in the week on improved optimism

The NSE All-Share Index (ASI) opened at 23,292.80 appreciating 0.99 per cent to close on Friday at 23,523.16. Similarly, the equities Market Capitalization opened at N7.41trillion appreciating 0.99 per cent to close at N7.49 trillion.

Three of the four sectoral indices appreciated The Bloomberg NSE 30 index rose by 1.38 per cent to close at 1,098.24, Bloomberg NSE Consumer Goods Index rose by 2.65 per cent to close at 1,979.86 and Bloomberg NSE Banking Index rose by 1.68 per cent to close at 354.51. However, Bloomberg NSE Insurance Index depreciated by 3.05 per cent to close at 124.20 and the Bloomberg NSE Oil/Gas Index also closed at 173.16 depreciating by 2.32 per cent per cent

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Consequently, a turnover of 1.471 billion shares worth N12.350 billion in 19,228 deals were recorded this week, in contrast to a total of 1.639 billion shares valued at N11.869 billion exchanged hands last week in 20,989 deals.

Also traded during the week were 3,050 units of NewGold Exchange Traded Funds (ETFs) valued at N7.636 million exchanged in 9 deals in contrast to a total of 8,000 units valued at N20.084 million exchanged hands last week in 13 deals.

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The Financial Services sector was the most active during the week (measured by turnover volume), with 1.066 billion shares worth N8.640 billion exchanged hands by investors in 11,332 deals.

Volume in the sector was largely driven by the Banking subsector led by shares of Zenith Bank Plc, Fidelity Bank Plc, and Guaranty Trust Bank Plc. Trading in the shares of the three banks accounted for 512.175 million shares, representing 51.06 per cent, 48.06 per cent and 34.81 per cent of the turnover recorded by the subsector, sector and total turnover for the week, respectively

The Healthcare sector, boosted by activity in the shares of Neimeth International Pharmaceuticals Plc and Union Diagnostic and Clinical Services Plc followed on the week’s activity chart with a turnover of 186.818 million shares valued at N121.137 million in 58 deals.

Thirty two equities appreciated in prices during the week, higher than 22 of the preceding week. Nigerian Breweries Plc led on the gainers’ table by 4.53 per cent to gain N5.30 kobo followed by Glaxo Smithkline Consumer Plc by 11.76 per cent to gain N3.00 kobo. Other price gainers’ in the top 10 category include Unilever Nigeria Plc with N2.38 kobo or 6.99 per cent, Guinness Nigeria Plc with N2.20 kobo or 0.92 per cent, Lafarge WAPCO Plc with N1.22 kobo or 2.89 per cent, Guaranty Trust Bank Plc with N0.58 kobo or 3.41 per cent, First Bank of Nigeria Plc with N0.55 kobo or 4.80 per cent,  Zenith Bank Plc with N0.45 kobo or 3.10 per cent, Ashaka Cement Plc with N0.45 kobo or 4.84 per cent and Portland Paints Plc with N0.44 kobo or 15.33 per cent.

On the other hand, 37 stocks depreciated in prices same as the preceding week. Mobil Oil Nigeria Plc led on the price losers’ table, dropping by 5.00 per cent to shed N6.25 kobo followed by Arbico Plc with a loss of N1.85 kobo or 9.67 per cent. Other price losers in the top 10 category are Okomu Oil Plc with N1.79 kobo or 5.70 per cent, Dangote Cement Plc with N1.50 kobo or 1.25 per cent, Julius Berger Plc with N1.38 kobo or 4.99 per cent, FO Plc with N1.29 kobo or 11.43 per cent, Berger Paints Plc with N0.79 kobo or 9.73 per cent, Chellaram Plc with N0.62 kobo or 9.64 per cent, Beta Glasses Plc with N0.52 kobo or 4.93 per cent and Stanbic IBTC with N0.45 or 6.43 per cent.


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