By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) All-Share Index (ASI) Friday appreciated by 3.03 percent (3.03%) to close the first week in year 2014.
According to the NSE’s stock market weekly report for January 03, 2014, the NSE’s ASI and market capitalisation appreciated by 3.03% to close Friday at 41,450.48 and N13.265 trillion respectively.
In the same vein, all the other NSE indices appreciated during the week: NSE 30 by 3.39% to close at 1,911.15 , NSE Consumer Goods by 0.40% to close at 1,090.98, NSE Banking by 7.14% to close at 452.25 NSE Insurance by 6.51% to close at 159.65.
Also, the NSE Oil/Gas Index increased by 6.84% to close at 347.67, NSE Lotus Islamic Index by 0.99% to close at 2,852.33, NSE Industrial Goods Index by 2.11% to close at 2,554.00 and NSE-ASeM by 0.07% to close at 963.02.
A summary of the price changes shows that 66 equities appreciated in prices during the week higher than 58 of the preceding week. 18 equities depreciated in prices higher than 11 of the previous week, while 114 equities remained unchanged lower than 129 in the corresponding week.
In terms of turnover, two ( 2) billion shares worth N15.907 billion in 17,378 deals were traded this week by investors on the floor of Nigerian Bourse compared to a total of 1.278 billion shares valued at N6.897 billion that exchanged hands last week in 10,761 deals.
The NSE weekly report affirmed that the Financial Services Industry (measured by volume) led the activity chart with 1.551 billion shares valued at N7.547 billion traded in 9,244 deals; thus contributing 77.54% and 47.45% to the total equity turnover volume and value respectively.
The Oil and Gas Industry followed with a turnover of 208.046 million shares worth N3.116 billion in 2,439 deals. The third place was occupied by the Conglomerates Industry with 105.277 million shares worth N476.146 million in 1,015 deals.
However, trading in the top three (3) equities namely, Sterling Bank Plc, Unity Bank Plc and NEM Insurance Plc (measured by volume) accounted for 811.497 million shares worth N1.183 billion in 1,100 deals, contributing 41.00% and 7.43% to the total equity turnover volume and value respectively.
In the same vein, Investment One Financial Services financial markets report affirmed that the ASI hit a new high today as it closed at 41,450 points with market capitalisation advancing as well to N13.27 trillion. Hitting a new high of 41,329 points, the NSEASI soared 2.12% on the final trading day of the year with the index delivering a 47.19% YTD return.
According to the Investment One report, WTD return on the index which stood at 3.03% was driven by investors’ strong market sentiments.
‘’Activity level remained strong as daily average volume and value of transaction rose by 17.38% and 72.97% respectively. On average, 499.89 million shares were traded worth 3.97 billion on a daily basis,’’ the Investment One report said.
