Stock market records largest weekly 2017 growth so far

Nigeria’s Equities market recorded its highest gain in one week as lead market indicators rose by 2.26 percent for the week ended 28th April 2017.

Investors transacted 1.3 billion shares in 16,300 deals valued N 9.6 billion grew, volume rose by 49 percent, while value increased by 63 percent.

The increase was on the premise of demand across banking and industrial goods names following relatively impressive Q1-17 results released by highly capitalized companies across both financial services and manufacturing sectors.

The All Share Index closed on a positive note by 2.26 percent w/w to close at 25,758.51 points. Market capitalization also added 2.26 percent or N197 billion this week to settle at N8.913 trillion.

Price gainers increased from 24 In the preceding week to 38 last week. Stanbic IBTC Holdings led this week’s gainers with a growth of28.24 percent and closed the week at N26.25, while Losers for the week reduced equities from 31 last week to 25 this week. Diamond Bank was the highest loser with a decline of 12.22percent.

Its share price closed at 79 kobo. 114 equities remained unchanged lower 122 equities recorded last week.

Topping the activity chart by volume were Access Bank Plc, Transnational Corporation of Nigeria Plc and Fidelity Bank Plc.

They accounted for 489.178 million shares worth N1.731 billion in 1,665 deals, contributing 36.69 percent and 17.90 percent to the total equity turnover volume and value respectively.

The Financial Services Industry maintained its lead position on the activity chart with 960.307million shares valued at N6.098 billion traded in 9,675 deals; thus contributing 72.03 percent and 63.06 percent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 154.404 million shares worth N330.132 million in 896 deals.

The third place was occupied by Oil and Gas Industry with a turnover of 60.285 million shares worth N896.174 million in 1,379 deals.

Also traded during the week were a total of 533 units of Exchange Traded Products (ETPs) valued at N32,204.30 executed in 15 deal compared with a total of 100 units valued at N6,799.00 transacted last week in 1 deal.

A total of 4,705 units of Federal Government Bonds valued at N3.934 million were traded this week in 4 deals, compared with a total of 1,311 units valued at N1.346 million transacted last week in 7 deals.