TransCorp, Diamond Bank, FBN lift market’s turnover

* As NSE ASI/ market cap advances by 10.21%, 10.91 %

Demonstration of market confidence, high liquidity level and growth potential sustained investors’ confidence in key companies during the week ended Friday, 12th January, 2018, as demand continue to pitch against supply for choice stocks.

Higher demands in key three top equities ,Transnational Corporation of Nigeria (TransCorp), Diamond Bank and FBN Holdings measured by volume accounted for 1.975 billion shares worth N7.473 billion in 8,54 deals, contributing 39.33 per cent and 10.83 per cent to the total equity turnover volume and value, respectively.

This and other gains recorded by highly price equities during the week, further lifted the NSE All-Share Index and Market Capitalization which grew by 10.21 per cent and 10.95 per cent to close the week at 42,898.90 and N15.368 trillion respectively.

Similarly, all other indices finished higher during the week with the exception of the NSE ASeM Index that closed flat.

Meanwhile, a total turnover of 5.021 billion shares worth N68.974bn in 41,542 deals were traded during the week by investors on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of 2.417 billion shares valued at N18.813bn that exchanged hands in the prior week in 20,874 deals.

The Financial Services Industry measured by volume led the activity chart with 3.417 billion shares valued at N31.649bn traded in 24,375 deals; thus contributing 68.06 per cent and 45.89 per cent to the total equity turnover volume and value, respectively.

The Conglomerates Industry followed with 894.357 million shares worth N2.180bn in 3,032 deals. The third place was occupied by Consumer Goods Industry with a turnover of 380.493 million shares worth N26.243bn in 7,408 deals.

Also traded during the week were a total of 777,535 units of Exchange Traded Products (ETPs) valued at N7.689 million executed in 15 deals, compared with a total of 305,604 units valued at N3.498m that was transacted last week in 8 deals.

A total of 6,301 units of Federal Government Bonds valued at N6.298 million were traded this week in 12 deals, compared with a total of 2,162 units valued at N2.016m transacted last week in 9 deals

The price movement table showed that, 66 equities appreciated in price during the week, higher than 55 of the previous week.
The decliners table showed that 7 equities depreciated in price, lower than 12 equities of the previous week, while 99 equities remained unchanged lower than 105 equities recorded in the preceding week.

Stories by Bonny Amadi