By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) All-Share Index (ASI) inched up by 2.11 percent (2.11%) at 36,926.29 to close the week July 05, 2013.
According to the NSE’s stock market report for the review period, the NSE 30 Index appreciated 2.26% to close at 1,740.40, while the NSE-ASeM did not record any change.
However, the other remaining NSE indices appreciated during the week: NSE Consumer Goods, NSE Banking, NSE Insurance, NSE Oil/Gas, NSE-Lotus II, and NSE Industrial Goods rose by 1.99%, 3.10%, 1.03%, 3.12%, 2.49% and 5.33% respectively.
Analysts at Investment One Financial Services said the NSE’s ASI after taking a correction shows signs of stability and rebound as it continues its pace northward.
According to the Investment One report, the NSEASI showed stronger signs of rebound in the review period as it traded on three (3) days of gains to mark 2.18% appreciation.
They affirmed that the index currently trades at 8.36% premium to the year-to-date high.
While the Afrinvest weekly market update affirmed that sentiments in the market fluctuated throughout the week.
The Afrinvest Analysts affirmed that top gainers this week were Portland Paint (46.9%), Evans Medical (38.8%), FO (19.5%), Corner Stone (18%) and Transcorp (17.9%).
The report said that caution early in the week by buyers of banking stocks led to muted gains at the close of the week. Guaranty, Zenith and UBA all recorded cumulative gains of less than 10% each while FBNH lost 0.9%. Mid-tier banks were not spared either as both Fidelity and Skye Bank appreciated by 4% and 3.1% while Access and Stanbic lost 0.9% and 1.2% respectively.
A summary of the price changes from the NSE’s report shows that 44 equities appreciated in prices during the week higher than 35 of the preceding week. 36 equities depreciated in prices lower than 47 of the preceding week, while 113 equities remained constant higher than one 111 of the preceding week.
In the week under review, a turnover of 3.478 billion shares worth of N14.902 billion in 24,576 deals were traded this week by investors on the floor of Nigerian Bourse compared to a total of 2.456 billion shares valued at N24.230 billion that exchanged hands last week in 33,402 deals.
The Conglomerates sector (measured by volume) came top and accounted for 1.967 billion shares valued at N2.826 billion traded in 1,400 deals. The Financial Services followed with 762.033 million shares valued at N6.190 billion traded in 12,479 deals.
Click here to download NSE’s report for July 05 2013
Click here to download Afrinvest weekly market update for July 05 2013
Click here to download Investment One financial market report for July 05 2013
