NSE: Equities market adds N198bn in 4 days

Motolani Oseni

The equities market segment of the Nigerian Stock Exchange (NSE) at the end of four trading days activities added N198 billion, as positive earnings performance of major bellwethers catalyzed investors sentiment.

The NSE, ended equities trading ended on Thursday and will open on Tuesday, due to the two days public holiday declared by the federal government of Nigeria to commemorate the end of the Lenten season and Easter celebrations.

Figures obtained by The Daily Times showed that the market capitalisation, which opened trading on April 15 at N11.103 trillion, gained N198 billion or 1.78 per cent to close trading on April 18 at N11.301 trillion.

Specifically, the All-Share Index (ASI) gained 525.84 basis points, representing a growth of 1.78 per cent to close at 30,086.31 basis points from 29,560.47 basis points it opened for trading last week.

All other indices finished higher with the exception of the NSE Oil/Gas Index that depreciated by 2.12 per cent.

According to NSE weekly market report, a total turnover of 988.692 million shares worth N11.432 billion in 13,596 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.770 billion shares valued at N15.264 billion that exchanged hands last week in 17,015 deals.

The Exchange revealed that 33 equities appreciated in price during the week, lower than 35 in the previous week. 33 equities depreciated in price, higher than 31 equities of the previous week, while 101 equities remained unchanged, the same with 101 equities recorded in the preceding week.

Chams Plc was the best performing stock, topped the gainers’ chart with 28.57 per cent to close at N0.36 from N0.28 per share, an up of N0.08.

First Aluminum Plc followed suit with N0.09 or 28.13 per cent to close at N0.41 from N0.32 per share while Dangote Flour Mills appreciated by 27.38 per cent, opened at N8.40 and closed at N10.70, an of up N2.30 per share.

Access Bank Plc grew by 15.13 per cent or N0.90 from N5.95 and closed at N6.85, while AIICO Insurance Plc gained 10.29 per cent to close at N0.75 from N0.68, an increase of N0.07 per share.

On the other hand, ABC Transport Plc led the losers’ chart, dropping by 7.50 per cent to close at N0.33 from N0.40 per share.

Royal Exchange Plc followed with a loss of 12 per cent or N0.03 to close at N0.22, while United Capital Plc fell by 11.43 per cent or N0.52 to close at N2.48 per share.

Other losers are C & I Leasing Plc shed 9.89 per cent or N0.79 to close at N7.20 per share, while AG Leventis Plc declined by 9.68 per cent to close at N0.28 per share.

Further breakdown of the trading showed that “The Financial Services Industry (measured by volume) led the activity chart with 766.191 million shares valued at N7.261 billion traded in 7,820 deals; thus contributing 77.50 per cent and 63.51 per cent to the total equity turnover volume and value respectively.

“The ICT Industry followed with 74.769 million shares worth N24.600 million in 212 deals.

The third place was Consumer Goods Industry with a turnover of 48.022 million shares worth N3.095 billion in 2,374 deals.

“Trading in the Top Three Equities namely, Union Bank of Nigeria Plc, Access Bank Plc and Guaranty Trust Bank Plc (measured by volume) accounted for 355.043 million shares worth N4.845 billion in 2,133 deals, contributing 35.91 per cent and 42.38 per cent to the total equity turnover volume and value respectively.”

Analysts at GTI Securities Limited stated, “We expect the overall market sentiment to stay positive in the next trading week as more positive earnings results are released.”