By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)- Lagos (INVESTADVOCATE)-Santa Claus rally continued on Wednesday ahead of Christmas holidays as the Nigerian Stock Exchange (NSE) all-share index (ASI) and market capitalisation climbed up 13.60 percent to close the week at 34,428.82 and N11.402 trillion respectively.
With this trend, the Nigerian equities market Year-to-Date (Y-t-D) returns currently stands at a negative 16.70 percent.
Similarly, all the indices progressed higher during the week with exception of the NSE ASeM Index that remained flat, NSE’s stock market report affirmed.
In the three (3) days trading week, the Nigerian bourse recorded a turnover of 1.860 billion shares worth N12.760 billion in 13,469 deals traded by investors compared to a total of 5.409 billion shares valued at N46.470 billion that exchanged hands last week in 22,986 deals.
The NSE reported that the Financial Services Industry (measured by volume) led the activity chart with 1.110 billion shares valued at N6.369 billion traded in 7,532 deals; thus contributing 59.67 percent and 49.91 percent to the total equity turnover volume and value respectively.
It further reported that the Conglomerates Industry followed with a turnover of 467.595 million shares worth N1.664 billion in 830 deals. And the third position was occupied by the Consumer Goods Industry with 85.970 million shares worth N2.392 billion in 2,469 deals.
According to the NSE’s weekly report for the three (3) day period, Transnational Corporation of Nigeria Plc, First City Monument Bank Plc and FBN Holdings Plc emerged the top three (3) traded equities which measured by volume accounted for 836.842 million shares worth N3.347 billion in 3,315 deals, contributing 45 percent and 26.23 percent to the total equity turnover volume and value respectively.
A summary of price changes on the Nigerian bourse in the review week shows santa claus rally continued as 57 equities appreciated in price during the week higher than 23 reported the previous week.
On the contrary, 16 equities went in price lower than 51 of the past week, while 124 equities remained unchanged higher than 123 recorded in the preceding week.
On the Exchange Traded Products (ETPs), the NSE report affirmed that a total of 36,241 units of ETPs valued at N627, 306.22 executed in 15 deals compared with a total of 28,556 units valued at N531, 541.14 transacted last week in 21 deals.
