Equity market remains bullish, gains N94bn

Trading activities on the floor of Nigerian Stock Exchange last week closed in an upward trend gaining N94 billion.
Market capitalisation of listed equities increased by 0.67.per cent to N14.102 trillion from N14.007 trillion recorded the previous week.
The Nigerian Stock Exchange All Share Index grew by 258.79 basis points to 38928.02 points from 38669.23 reported the preceding week.
Similarly, all other indices finished higher with the exception of the NSE Corporate Governance index, NSE Consumer Goods and NSE Industrial Goods Indices that depreciated by 0.08 per cent, 0.85 per cent and 0.12 per cent respectively, while the NSE ASeM closed Flat.
NSE Premium index increased by 26.69 to 2843.88, The NSE Main Board index added 7.04.to 1,705.68 points, NSE 30 index grew by 10.84 to 1761.28, NSE Banking index appreciated by 1.29 to 450.55 points, NSE Insurance index went up by 3.57 to 144.33 points, NSE Oil and Gas advanced by 12.92 to 349.68 points, NSE Lotus II gained 45.18 basis points to 2607.69 while NSE Pension rose by 5.79 to 1,508.07 points.
The trading which lasted four working days of the week as federal government declared Friday as public holidays to commemorate the Eid-alfitr celebration showed that investors traded a turnover of 1.738 billion shares worth N18.462 billion in 14,790 deals in contrast to a total of 1.749 billion shares valued at N31.183 billion that exchanged hands last week in 24,604 deals.
The Financial Services Industry led the activity chart in volume terms, accounting for 1.170 billion shares valued at N9.695 billion traded in 7,809 deals, contributing 67.35 per cent and 52.51 per cent to the total equity turnover volume and value respectively.
The Services Industry followed with account of 293.492 million shares worth N733.407 million in 531 deals.
The third position was occupied by Consumer Goods with a turnover of 154.093 million shares worth N4.997 billion in 3,002 deals.
Trading in the top three equities namely – United Capital Plc, Ikeja Hotel Plc and United Bank For Africa Plc accounted for 811.747 million shares worth N3.887 billion in 986 deals, contributing 46.71 per cent and 21.05 per cent to the total equity turnover volume and value respectively.
The review of transactions during the week showed that 40 equities appreciated in price against 49 recorded in the previous week.
The result further revealed that 28 companies depreciated in price, compared with 29 equities traded two weeks ago, while 101 equities remained unchanged higher than 91 equities recorded in the preceding week.
An analysis of the trading activities indicated that Japaul Oil and Maritime Services Plc led gainers table, growing by 22.58 per cent or N0.07 kobo to close at N0.38 kobo, Equity Assurance Plc followed with a gain of 20.00 per cent or N0.04 kobo to close at N0.24 kobo, Union Bank Nigeria Plc added 10.71 per cent or N0.60 kobo to close at N6.20 kobo.
other companies appreciated in price were Okomu Oil Palm 10.24 per cent, Learn Africa Plc 9.72.per cent, Lasaco Assurance Plc 8.57 per cent, NPF Microfinance Bank Plc 8.48 per cent, Ikeja Hotel Plc 8.37.per cent, Honey Well Flour Mills Plc 8.26 per cent.
C & I Leasing Plc 7.45 per cent.
Conversely, Mutual Benefits Assurance recorded the highest loss for the week, shedding 13.89 per cent or N0.05 kobo to close at N0.30 kobo, A. G. Leventis Nigeria Plc trailed with a loss of 7.55 per cent or N0.04 kobo to close at N0.49 kobo, Nigerian Breweries Plc down by 5.98 per cent or N7.00 to close at N110.00.
Other listed firms that depreciated in price were Never Paints Plc 4.97 per cent, Union Diagnostic and Clinical Services Plc 4.76 per cent, Neimeth International Pharmaceuticals Plc 4.76 per cent, Law Union and Rock Insurance Plc 4.65 per cent, Prestige Assurance Conpany Plc 4.48 per cent while Newrest ASL Nigeria Plc down by 4.26 per cent.
Also traded during the week were a total of 62,392 units of Exchange Traded Products (ETPs) valued at N1.004 million executed in 13 deals, compared with a total of 202,916 units valued at N1.168 million that was transacted last week in 19 deals.
A total of 9,850 units of Federal Government valued at N9.999 million were traded this week in 10 deals, compared with a total of 10,561 units valued at N10.381 million transacted last week in 20 deals.