Equity market closes higher gaining N181bn

By Amaka Ifeakandu

 

Lagos

Th e nation’s equity market week had volatile and mixed performance as the market closed on Friday in a positive trend, gaining N181 billion.
Th e market which traded at N12.678 on Monday depreciated by N62 billion to close on Wednesday at N12.616 trillion.
Specifically, market capitalisation of listed equities grew by 1.45 per cent to N12683 trillion from N12.502 trillion traded the previous week.
Also the Nigerian Stock Exchange All Share Index appreciated by 527.24 basis points to 36848.17 points from 36320.93 reported two weeks ago.
Similarly, all other Indices fi nished higher during the week with the exception of the NSE ASEM Index which closed fl at. NSE Premium index rose by 60.53 to 2,456.06 points, the NSE Main Board index surged by 13.19 to 1658.10, NSE 30 index grew by 20.81 to 1688.19, NSE Banking index increased by 6.
42 to 460.56 points, NSE Insurance 10.90 to 148.94 , NSE Consumer Goods Index went up by 0.
45 to 935.29, NSE Oil and Gas 5.20 to 291.09 , NSE Lotus II 37.35 to 2297.60 points, NSE industrial Good index appreciated by 13.90 to 2120.18 NSE Pension index surged by 16.75 to 1273.34 points However, the increased in trading for the week was supported by buying pressure that increased as revealed by the volume of transactions which grew by 62 million or 4.15 per cent.
The market still remain expectant on a mixed sentiments as investors and traders confi dence remained high that the market will improve further as companies begin to release third quarter results.
Investors also expected that the planned reclassifi cation of Nigeria into the emerging market index in November will be a plus at a time many international fund managers look to emerging markets for higher yield.
Meanwhile, investors for the week traded a turnover of 1.555 billion shares worth N13.504 billion in 18,409 deals in contrast to a total of 1.493 billion shares valued at N15.107 billion that exchanged hands last week in 14,549 deals.
Th e Financial Services Industry led the activity chart with 1.365 billion shares valued at N6.507 billion traded in 10,880 deals; thus contributing 87.76 per cent and 48.19 per cent to the total equity turnover volume and value respectively.
Th e Consumer Goods Industry followed with 70.496 million shares worth N5.637 billion in 3,398 deals.
Th e third place was occupied by Conglomerates Industry with a turnover of 58.779 million shares worth N141.929 million in 706 deals.
Trading in the top three equities namely – Diamond Bank Plc, Zenith International Bank Plc and Transnational Corporation of Nigeria Plc accounted for 985.762 million shares worth N2.841 billion in 3,401 deals, contributing 63.39 per cent and 21.04 per cent to the total equity turnover volume and value respectively.
A review of investment during the week showed that 41 equities appreciated against 38 recorded the previous week.
Th e result indicated that 23 fi rms depreciated in price, compared with 26 equities of the previous week, while 107 equities remained unchanged the same number recorded in the preceding week.

 

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