By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) Friday closed the week as the second best performing index globally with a 35 percent (35%) Year-to-Date (YTD) performance despite the Tuesday’s holiday declared by the Federal Government.
According to the Afrinvest weekly update on the global equity market update, the US, UK, Europe and Asia all shed a few points (W-o-W) as the realities of a partial US government shutdown unfolds.
The Nikkei 225 recorded the biggest loss with a loss 5.0% W-o-W, followed by an average 0.8% loss in the FTSE All Share Index and S&P 500.
The Nigerian market was upbeat to close the week as the ASI recorded and increase of 134 bps.
According to the NSE’s stock market report for the review period, ASI rose by 1.34% to close on Friday at 36,925.82. While the NSE 30 Index inched up by 1.44% to close at 1,732.87.
Other NSE indices appreciated during the week with the exception of two. NSE Consumer Goods, NSE Banking, NSE Insurance and NSE Oil/Gas inched up by 2.59%, 1.87%, 0.48%, and 1.32% respectively. However, NSE Lotus II and NSE Industrial Goods slipped by 0.18% and 0.03% respectively.
A summary of price movement of equities at the Nigerian Bourse shows that 49 equities appreciated in prices during the week higher than 43 of the preceding week.
24 equities depreciated in prices lower than 32 in the corresponding week, while 124 equities remained unchanged higher than 119 equities of the previous week.
However, the Nigerian Bourse recorded a turnover of 1.625 billion shares worth N15.372 billion in 15,935 deals traded in the review week by investors compared to a total of 1.391 billion shares valued at N11.722 billion that exchanged hands last week in 22,314 deals.
Reports from the NSE shows that the Financial Services sector (measured by volume) led the activity chart with 1.110 billion shares valued at N9.747 billion traded in 8,465 deals; thus contributing 68.28%, 63.41% and 53.12% to the total equity turnover volume, value and number of deals respectively.
While, the Conglomerates sector followed with a turnover of 379.453 million shares worth N935.749 million in 1,173 deals, contributing 23.35%, 6.09% and 7.36% to the total equity turnover volume, value and number of deals respectively. The Consumer Goods sector came third with 53.060 million shares worth N2.890 billion in 2,940 deals.
The NSE reports that trading in the top three (3) equities namely Transnational Corporation of Nigeria Plc, Zenith Bank Plc UBA Plc (measured by volume) accounted for 662.364 million shares worth N4.935 billion in 2,556 deals, contributing 40.76%, 32.10% and 16.04% to the total equity turnover volume, value and deals respectively.
On the Over-the-Counter (OTC) market for FGN bonds, a turnover of 111.010 million units valued at N121.425 billion in 700 deals were recorded in the review week compared to 131.511 million units worth N138.670 billion in 733 deals recorded in the previous week ended September 27, 2013.
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