By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-The bulls returned on Friday to the Nigerian equities market recording a narrow gain of 0.50 percent to close at 35,005.42 points, representing a marginal 0.22 percent Week-on-Week ( w/w) appreciation and a gain of one (1) percent Year-to-Date (Y-t-D).
Cordros weekly market update say the narrow gain was as a result of alleviated political concerns and first quarter (Q1)-2015 results playing a major role.
“Similarly, all the Indices finished higher during the week with the exception of the NSE Consumer Goods and NSE Lotus II indices that shed 1.27% and 2.00% respectively. However, the NSE ASeM Index closed flat,” the Nigerian Stock Exchange (NSE) weekly report affirmed.
At end of the weekly transaction on the Nigerian bourse, a turnover of 1.919 billion shares worth N19.402 billion in 23,988 deals were traded by investors compared to a total of 3.511 billion shares valued at N25.196 billion that exchanged hands last week in 26,836 deals.
The NSE reported that the Financial Services Industry (measured by volume) led the activity chart with 1.530 billion shares valued at N11.683 billion traded in 13,040 deals; thus contributing 79.71 percent and 60.21 percent to the total equity turnover volume and value respectively.
Also, the Conglomerates Industry followed with a turnover of 156.808 million shares worth N1.589 billion in 1,695 deals. While in the third position is the Consumer Goods Industry with 107.338 million shares worth N3.816 billion in 3,983 deals.
Volumes traded in the shares of insurer, Standard Alliance Insurance Plc, Lender United Bank for Africa Plc and FBN Holdings Plc collectively accounted for 667.216 million shares worth N2.543 billion in 4,444 deals contributing 35 percent and 13.11 percent to the total equity turnover volume and value respectively.
A summary of price changes in the review week at the Nigerian equities market shows that 46 equities appreciated in price during the week, higher than 25 of the past week. On the contrary, 28 equities depreciated in price, lower than 53 reported the preceding week, while 122 remained unchanged higher than 118 recorded last week.
