NSE Index Nicks 1.39% In One Week As Investors Buy 4.331bn Shares | Independent Newspapers Limited
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NSE Index Nicks 1.39% In One Week As Investors Buy 4.331bn Shares

NSE Index Rebounds, Up 0.08%
Posted: Sep 26, 2016 at 3:55 am   /   by   /   comments (0)

Bamidele Ogunwusi

Lagos – The NSE All-Share Index and market capitalisation appreciated by 1.39 per cent last week when they closed the week at 28,247.07 and N9.703 trillion respectively.

At the close of trading on Friday, a turnover of 4.331 billion shares worth N16.803 billion in 16,797 deals were traded by investors on the floor of the Exchange in contrast to a total of 611.527 million shares valued at N5.495 billion that exchanged hands last week in 9,650 deals.

The financial services Industry led the activity chart with 4.177 billion shares valued at N9.788 billion traded in 9,805 deals; thus contributing 96.45 percent and 58.25 percent to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 65.533 million shares worth N5.017 billion in 2,855 deals. The third place was occupied by the Conglomerates Industry with a turnover of 31.751 million shares worth N125.102 million in 594 deals.

Trading in the top three equities are Great Nigerian Insurance Plc, FCMB Group Plc and Diamond Bank Plc and they accounted for 3.299 billion shares worth N3.704 billion in 1,308 deals, contributing 76.18 percent and 22.04 percent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 615 units of Exchange Traded Products (ETPs) valued at N6,070.20 executed in 21 deals, compared with a total of 945 units valued at N9,541.90 transacted last week in 18 deals.

A total of 3,394 units of Federal Government bonds valued at N3.263 million were traded in 5 deals compared to a total of 1,700 units of Federal Government Bonds valued at N1.591 million transacted last week in 6 deals.

Similarly, all other Indices finished higher during the week, with the exception of the NSE-Main Board Index, NSE Banking Index and the NSE Consumer Goods Index that depreciated by 0.14%, 0.73 percent and 0.53 per cent respectively, while the NSE ASeM and NSE Insurance Indices closed flat.

Thirty-three equities appreciated in price during the week, lower than thirty-four equities in the previous week. Twenty-five equities depreciated in price, lower than twenty-six equities in the previous week, while one hundred and twenty-two equities remained unchanged higher than one hundred and twenty equities recorded in the preceding week.

Meanwhile, at the close of trading on Friday, the All Share Index gained 0.29 percent, while market capitalisation increased by N27.7 billion to close at N9.7 trillion. However, value traded declined by 56.9% to settle at N1.6 billion, just as volume traded fell by 35.4 percent to 265.1 million units. Market breadth came in at 1.4x (previously 0.9x) as 22 stocks appreciated against 16 losers.

Financial Services trail as bullish sentiment dominates other key sectors: The Industrial Goods sector posted a positive daily return of 1.0 percent mainly driven by bargain hunting in Dangote Cement (+1.1 percent).  Also, the Consumer Goods sector followed suit to closed the day higher with a gain of 0.5 percent on account of position taking in counters such as 7UP (+7.8 percent), Cadbury (+5.0 per cent) and Flourmill (+5.0 per cent), just as the Oil and Gas sector improved on the previous close with a positive daily return of 0.4 percent mostly due to price appreciation in TOTAL (+4.1%). Conversely, the Financial Services sector edged lower with a daily loss of 1.0% on the back of profit booking in Unity Bank (-3.9 percent), Guaranty Trust Bank (-2.9 percent) and Zenith Bank (-1.2%). After opening the week on a hind limb, equities recouped the earlier losses to post gains for two consecutive trading sessions. However, profit booking in the Industrial Goods sector drove a bearish close on Thursday.

The bullish run seen in equities on Friday can be attributed to bargain hunting across the key sectors with the exception of the Financial Services sector. In summary, WTD return came in at +1.4%, trimming year-to-date loss to -1.4 percent.