NSE: Equities market gains N403bn in one week

Temitope Adebayo

Investors in the equities market of the Nigerian Stock Exchange (NSE) at the close of last week trading activities gained N403 billion in five trading days as high –mid capitalised shares recorded bargain-hunting.

Market statistics obtained by our correspondent showed that market capitalisation increased by 3.25 per cent to N13.524 trillion from N13.121 trillion it opened for trading.

Specifically, NSE All-Share Index also gained 874.88 basis points, representing a growth of 3.07 per cent to 27,800.17 basis points from 26,925.29 basis points it opened for trading.

Capital market analysts said bargain-hunting in Banking, Consumer Goods and Oil & gas, shares were responsible for the equities market increased last week.

The Banking Index was up by 9.19 per cent, Consumer Goods Index increased by 3.97 per cent, Oil/Gas Index rose by 1.64 per cent and Industrial Goods Index surged by 1.21 per cent. However, the NSE Insurance Index moderated by 1.38 per cent.

The equities market recorded a total turnover of 2.337 billion shares worth N19.712 billion in 18,379 deals were traded last week by investors on the floor of the Exchange.

According to NSE weekly report, “The Financial Services industry (measured by volume) led the activity chart with 1.815 billion shares valued at N10.441 billion traded in 10,701 deals; thus contributing 77.70 per cent and 52.97 per cent to the total equity turnover volume and value respectively.

“The The conglomerates Industry followed with 197.802 million shares worth N286.209 million in 1,066 deals. The third place was the Industrial Goods industry with a turnover of 100.366 million shares worth N2.176 billion in 788 deals.

“Trading in the Top Three Equities namely, Sovereign Trust Insurance Plc, Transnational Corporation of Nigeria Plc and Zenith Bank Plc (measured by volume) accounted for 1.244 billion shares worth N3.348 billion in 2,907 deals, contributing 53.25 per cent and 16.98 per cent to the total equity turnover volume and value respectively.”

Also, traded during the week were a total of 3,943 units of Exchange Traded Products (ETPs) valued at N1.684 million, executed in 16 deals, compared with a total of 1,292 units valued at N15,283.55 transacted last week in 7 deals.

A total of 1,673 units of Federal Government Bonds valued at N1.674 million were traded last week in 31 deals compared with a total of 4,009 units valued at N4.111 million transacted prior two weeks in 16 deals.