By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE) – The Nigerian stock exchange (NSE) Thursday closed ahead of Easter holidays as all-share index (ASI) went up slightly 0.58 percent (0.58%) to close week at 39,311.60, while market capitalisation increased 2.98% to close N12.928 trillion.
Stock market report from the Nigerian bourse for the week ended April 17, 2014 said all the NSE Indices appreciated during the week with the exception of the NSE consumer goods index and NSE-lotus II that shed 0.76% and 0.84% respectively; while the NSE ASeM closed flat.
However, analysts at Cordros Capital Limited said after gaining 0.96% last week, the first day of the week brought sell pressure into the market leading to a 0.25% decline in the benchmark index.
The Cordros Capital analysts said bullish trading between Tuesday and Thursday saw a cumulative 0.87% erase the early loss and at the close of trading session on Thursday, the market had added 0.62% this week, increasing by 0.16% on average daily, from 0.19% last week.
They affirmed that the listing of SEPLAT boosted market capitalisation by N280 million and also contributed to the market gain.
‘’ It was an upbeat week for the equities market as week-on-week (w/w) appreciations persisted into its fourth week, riding on positive Q1 results from the likes of Forte Oil Plc (FO) Transnational Incorporated Plc (TRANSCORP), Diamond Bank Plc and Guaranty Trust Bank Plc.
The Cordrdos capital analysts said volume traded remained flat despite only four (4) trading sessions. 1.53 billion shares worth a total of N14.31 billion were traded during the week, compared to 1.53billion shares worth a total of N23.03 billion traded last week. ‘’UBA, UBCAP and TRANSCORP shares accounted for 52% of the total volume traded within the week, whereas UBA, GUARANTY and ZENITHBANK attributed 50% to the total value of transactions’’ the Cordros report said.
On its part, the NSE reported that a turnover of 1.532 billion shares worth N14.309 billion in 17,704 deals were traded this week by investors on the floor of Nigerian bourse compared to a total of 1.642 billion shares valued at N23.163 billion that exchanged hands last week in 21,620 deals.
The NSE’s weekly market report affirmed that the financial services industry (measured by volume) led the activity chart with 1.327 billion shares valued at N10.388 billion traded in 10,582 deals; thus contributing 86.67% and 72.60% to the total equity turnover volume and value respectively.
While the conglomerates industry followed with a turnover of 102.919 million shares worth N578.971 million in 1,198 deals. The third place was occupied by the consumer goods industry with 28.978 million shares worth N1.727 billion in 2,218 deals.
‘’Trading in the top three (3) equities namely- United Bank for Africa Plc, UBA Capital Plc and Transnational Corporation of Nigeria Plc (measured by volume) accounted for 800.380 million shares worth N4.765 billion in 2,373 deals, contributing 52.26% and 33.30% to the total equity turnover volume and value respectively,’’ the NSE reported.
In terms of summary of price changes at the Nigerian bourse for the week, 31 equities appreciated in prices during the week lower than 33 of the previous week. While 42 equities depreciated in prices higher than 36 equities last week. However, 125 equities remained unchanged lower than 129 reported of the previous week.
