2017: Equity market closes in positive trend, increases by 47.2%

Stories by Amaka Ifeakandu

Lagos

Trading at the Nigerian Stock Exchange (NSE) last week close year on a positive trend, growing by N4.363 trillion.
The Market capitalisation of listed equities which opened year at N9.246 trillion appreciated 47.19 per cent to N13.609 trillion from N9.246 trillion recorded at the end of December 2016. The NSE All share index also increased by 11368 or 42.30 per cent to N38,243.19 points compared to 26874. 62 it closed in 2016.
Financial operators said that renewed efforts from both monetary and fiscal authorities in 2017 are responsible for good performance of stock market in 2017. They further said that with the commencement of importers and exporters foreign exchange window in second quarter of 2017, Nigerian equities market appeared to have regained confidence of the foreign portfolio investors as they actively supported the resurgence of the market in the year under review.
Meanwhile for the week ended December 29, 2017, market capitalisation of listed equities sheds N99 billion or 0 72 per cent to close the week at N13.609 trillion against N13.708 trillion recorded the previous week.
The Nigerian Stock Exchange NSE All Share Index (ASI) declined by 278.95 basis points to 38243.29 points from 38522.14 points traded the preceding week.
The trading result showed that all other indices finished higher during the week with the exception of the NSE Premium, NSE ASeM, NSE 30, and NSE Industrial Goods Indices that depreciated by 3.32 per cent, 3.42 per cent, 0.27 per cent and 1.28 per cent respectively.
Index appreciated within the period were the NSE Main Board Index added 14.78 to 1713.69 points, NSE Banking Index 0.46 to 139.37, NSE Consumer Goods index increased by 8.18 to 976.10, NSE Oil and Gas Index added 14.76 to 330.69, NSE Lotus II grew by 26.14 to 2,560.39 points and NSE Pension Index advanced by 1.46 basis points to 1,379.74 points.
Investors traded turnover of 1.310 billion shares worth N12.635 billion in 9,016 deals were traded in contrast to a total of 2.243 billion shares valued at N139.789 billion that exchanged hands last week in 18,466 deals.
The Financial Services Industry led the activity chart with 886.327 million shares valued at N4.829 billion traded in 4,998 deals, contributing 67.68 per cent and 38.22 per cent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 307.946 million shares worth N466.045 million in 471 deals. The third place was occupied by Consumer Goods Industry with a turnover of 61.258 million shares worth N1.507 billion in 2,001 deals.
Trading in the top three equities namely–Transnational Corporation of Nigeria Plc, AIICO Insurance Plc Cement Plc and Fidelity Bank Insurance Plc accounted for 736.889 million shares worth N998.336 million in 899 deals, contributing 56.27 per cent and 7.90 per cent to the total equity turnover volume and value respectively.
A review of the transactions for the week showed that 32 equities appreciated in price against 35 of the previous week. The result showed that 25 equities depreciated in price, same as 25 traded the preceding week, while 115 equities remained unchanged higher than 112 equities recorded in the preceding week.
The result also indicated that II Plc led gainers table during the week, gaining 14.47 per cent or N24.60 kobo to close at N194.60 kobo, N.E.M Insurance Company Nigeria Plc followed with a gain of 10.67 per cent or N0.16 kobo to close at N1.66 kobo, FCMB Group Plc appreciated by 9.63 per cent or N0.13 kobo to close at N1.48 kobo. Other companies appreciated in price were Cadbury Nigeria Plc 9.35 per cent, Law and Rock Insurance Plc 8.45 per cent, Sterling Bank Plc 8.0 per cent, Nestle Nigeria Plc 5.49 per cent, Seplat Petroleum Development Company Limited 5.0 per cent Total Nigeria Plc 5.0 per cent, Medview Airline Plc 4.74 per cent.
On the contrary, Omoluabi Mortgage Bank Plc topped losers chart, dropping by 8.54 per cent or N0.07 kobo to close at N0 75 kobo, Lives Stock Feeds Plc trailed with a loss of 6.74 per cent or N0.06 kobo to close at N0.83 kobo, Okomu Oil Palm Plc fell by 5.0 per cent or N3.56 kobo to close at N67.69 kobo. Other firms that recorded price depreciation were Presco Plc 4.86 per cent, Mcnichol Plc 4.76 per cent, Caverton Offshore Support GRP Plc 4.44 per cent, Linkage Insurance Plc 4.35 kobo, Dangote Cement Plc 4.17 per cent, Externa Plc 4.02 per cent, Axamansard Insurance 3.98 per cent.
Also traded during the week were a total of 276 units of Exchange Traded Products (ETPs) valued at N9,865.34 executed in 12 deals, compared with a total of 3,070 units valued at N455,245.00 that was transacted last week in 8 deals.
A total of 422,672 units of three (3) Federal Government Bonds and One State bond valued at N436.190 million were traded this week in 20 deals, compared with a total of 3,780 units valued at N3.931 million transacted last week in 17 deals.

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