Banks, consumer goods, conglomerates open week on bid

Increased investor interest in the equities market for the week ended Friday, 7th September ,2017, lifted the banking sector, consumer goods and the conglomerates to emerge as most traded sectors for the four days trading week.

This helped to boost the NSE All-Share Index and Market Capitalization by 1.27 per cent to close the week at 35,957.24 and N12.393 trillion respectively.

Experts have made projections that the three sectors which are likely to open trading on the NSE today on bid, will sustain high activity level of the market to mod week, when a shift may likely occur.

According o the Nigerian Stock Exchange (NSE) weekly summary, the Financial Services Industry measured by volume led the activity chart by contributing 82.20 per cent and 50.52 per cent of the total equity turnover volume and value respectively, with 729.177 million shares valued at N8.816bn traded in 10,744 deals.

The Consumer Goods Industry followed with 68.153 million shares worth N6.692bn in 2,908 deals, while the third place was occupied by Conglomerates Industry with a turnover of 32.109 million shares worth N183.098 million in 687 deals.

As the Federal Government of Nigeria declared Friday, 1st and Monday 4th of September, 2017, as Public Holidays in commemoration of the Eid -el- Kabir Sallah Celebrations, for the four-day trading week, a total turnover of 887.024 million shares worth N17.450 bn in 16,955 deals were traded during the week by investors on the floor of the Exchange in contrast to a total of 998.973 million shares valued at N11.455 billion that exchanged hands in the preceding week in 13,626 deals.

Trading in the top three bank equities namely, Access Bank , Guaranty Trust Bank, Zenith International Bank, measured by volume accounted for 320.549 million shares worth N6.909 billion in 2,643 deals, contributing 36.14 per cent and 39.59 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 3,000 units of Exchange Traded Products (ETPs) valued at N31,590.00 executed in 1 deal compared with a total of 86,063 units valued at N838,754.79 transacted last week in 8 deals.
The NSE’s All-Share Index and Market Capitalization appreciated by 1.27 per cent to close the week at 35,957.24 and N12.393 trillion respectively.

Similarly, all other Indices finished higher during the week with the exception of the NSE’s Main Board, NSE’s Banking, NSE’s Insurance, NSE’s Oil/Gas and NSE’s Industrial Goods Indices that depreciated by 0.24 per cent, 1.08 per cent, 0.10 per cent, 3.77% and 1.01% respectively while the NSE ASeM Index closed flat

The price movement table for the week showed that 28 equities appreciated in price during the week, higher than 19 of the previous week.

The decline table showed that 38 equities depreciated in price, lower than 48 equities of the previous week, while one 105 equities remained unchanged higher than 104 equities recorded in the preceding week.