NSE: Volume of transactions improves by 59.7%

By Amaka Ifeakandu

Lagos

Volume of activities on the floor of Nigerian Stock Exchange (NSE) last week improved by 59.7 per cent.
The NSE trading result showed that volume of transactions increased by 521.108 million as investors for the week traded a turnover of 1.394 billion shares worth N16.403 billion in 19,195 deals in contrast to a total of 872.892 million shares valued at N14.016 billion that exchanged hands last week in 19,047 deals.
The financial services Industry led the activity chart in volume terms with account of 1.116 billion shares valued at N10.153 billion traded in 9,942 deals; contributing 80.05 per cent and 61.90 per cent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 95.005 million shares worth N3.251 billion in 4,443 deals. The third positiin went to Conglomerates Industry with a turnover of 90.194 million shares worth N645.159 million in 1,136 deals.
Trading in the top three equities namely – United Bank for Africa Plc, Access Bank Plc and FBN Holdings Plc accounted for 515.058 million shares worth N4.458 billion in 3,088 deals, contributing 36.95 per cent and 27.17 per cent to the total equity turnover volume and value respectively.
Market capitalisation of listed equities increased by N26 billion or 0 20 per cent to N12.619 trillion from N12.593 trillion recorded the previous week. The Nigerian Stock Exchange (NSE) All Share Index on the other hand depreciated by 125.05 or 0.34 per cent to 36462.26 points from 36587.31 traded the preceding week.
The transactions for the week indicated that all other Indices finished lower during the week with the exception of the NSE ASeM, NSE Banking, NSE Lotus II and NSE Pension Indices that appreciated by 0.18per cent, 0.84 per cent, 0.57 per cent and 0.76 per cent respectively. NSE Premium index fell by 9.84 to 2422.24 , The NSE Main Board index declined by 4.95 to 1644.15, NSE 30 Index dropped by 7.71 basis points to 1670.30, NSE Insurance index went down by 4.42 to 139.10, NSE Consumer Goods index sheds 6.78 to917.51, NSE Oil & Gas Index went down by 3.83 to 282.17 points and NSE Industrial goods index 69.13 to 2036.57points.
.A review of the investment for the week showed that 33 equities appreciated in price against 23 of the previous week. The result revealed that 32 firms depreciated in price, lower than 34 equities of the previous week, while 106 equities remained unchanged compared with 114 equities recorded
in the preceding week.
An analysis of the trading activities showed that Nascon Allied Industries Plc let gainers table during the day week, appreciating by 20 76 or N2.74 kobo to close at N15.94 kobo, Dangote Flour Mills Nigeria Plc followed with a gain of 19.59 per cent or N1.35 kobo to close at N8.24 kobo, Fidelity Bank increased by 15.28 per cent or N0.22 kobo to close at N1.66 kobo. Other firms that recorded price appreciation were UAC of Nigeria 12.04 per cent, Fidson Healthcare Plc 8.42 per cent, Learn Africa Plc 6.33 per cent, Custodian and Allied Insurance Plc 5.82 per cent, Honey Well Flour Mills Plc 5.79 per cent, Glaxosmith Kline Consumer Nigeria Plc 5.00 per cent
Cutix Plc topped losers chart for the week, declining by 22.31 per cent or N0.58kobo to N2.02 kobo, Forte Oil trailed with a loss of 14.24 per cent or N6.36 kobo to close at N38.29 kobo, while Axamansard Insurance Plc fell by 10.22 per cent or N0.23 to N2.02 kobo. Other companies depreciated in price were Jaiz Bank Plc 9.09 per cent, University Press Plc 7.66, Lafarge Africa Plc 7.14 , per cent Diamond Bank Plc 5.45 kobo, May & Baker Nigeria Plc 5.36 per cent, Nigerian Breweries Plc 5.01 per cent and Total Nigeria Plc 5.00 per cent
Also traded during the week were a total of 104,544 units of Exchange Traded Products (ETPs) valued at N11.506 million executed in 7 deals compared with a total of 34,573 units valued at N2.091 million transacted last week in 14 deals
A total of 559 units of Federal Government Bonds valued at N485,802.83 were traded this week in 5 deals, compared with a total of 7,279 units valued at N7.139 billion transacted last week in 12 deals.
Cadbury records N8.1bn profit in Q3
Cadbury Nigeria Plc has recorded revenue of N8.100 billion for the third quarter financial year ended September 30, 2017. The result showed an increase of N692.482 million or 9.5 per cent compared with N7.408 billion reported in the corresponding period of 2016.
The company result submitted at the NSE showed that profit for the year stood at N701.985 million against negative of N1.057 billion reported in the preceding year.
A breakdown of the company result within the period under review showed that gross profit took upward trend to N2.433 billion from N426.364 million achieved in the corresponding period of last year. Finance income down from N101.769 million to N61.996 million while cost of sales declined to negative N5.667 billion from negative of N6.982 billion recorded in the comparative period of 2016.
The company result showed that non-current assets went down to N14.436 billion from N14.584 billion, current assets on the other hand rose from N13.808 billion to N16.562 billion bringing the total assets to N30.999 billion compared to N28.392 billion made in the preceding year. The non current liabilities increased to N5.086 billion from N4.515 billion, current liabilities also went up to N14.681 billion against N12.820 billion in the preceding year, leading to total liabilities of N19.767 billion from N17.336 billion recorded in the preceding period.
MSCI Nigeria to retain frontier market indexes
The Morgan Stanley Capital International (MSCI) has taken decision to retain the MSCI Nigeria Indexes in the MSCI Frontier Markets Indexes. The market will be removed from the review list for potential reclassification to Standalone status.
MSCI also said it will no longer apply the special treatment for the MSCI Nigeria Indexes announced on April 29, 2016. Specifically, and as part of the upcoming November 2017 Semi-Annual Index Review , MSCI will implement all index review changes, including changes in the Number of Shares (NOS) and Foreign Inclusion Factors (FIF) that have been postponed since April 29, 2016. These changes will be made for securities classified in Nigeria in the MSCI Nigeria Indexes and in indexes which Nigeria is a component of. These include the MSCI Factor, Thematic, ESG and other relevant derived indexes. MSCI will also resume the regular implementation of corporate events effective immediately.
Index review changes for the MSCI Nigeria Indexes will be announced together with the November 2017 Semi-Annual Index Review announcement on November 13, 2017.
As a reminder, the MSCI Nigeria Indexes were added to the review list for potential reclassification to Standalone status in September 2016 due to issues in the foreign exchange market leading to impairment in the ability of institutional investors to repatriate capital.
It could be recalled that on April 21, 2017, the Central Bank of Nigeria (CBN) announced the establishment of the Investors’ and Exporters’ FX Window which aims to improve liquidity in the foreign exchange (FX) market. Market participants have indicated that since the establishment of this Window, funds can be repatriated at close to the official rate. Concerns on the spreads and delays which investors have earlier experienced have also eased.

 

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