By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-Nigerian stocks on Thursday closed the week on a positive note following demands on blue chips and agricultural goods stocks.
The Nigerian Stock Exchange (NSE) all-share index (ASI) and market capitalisation appreciated by 0.64 percent and 0.30 percent to close at 34,708.11 and N11.787 trillion respectively, the NSE weekly stock market report affirmed.
In the same vein, four (4) indices on the Nigerian bourse finished higher during the week with the exception of the NSE Banking, NSE Insurance and NSE Oil and Gas indices that declined by 1.69 percent, 2.34 percent and 6.87 percent respectively. “However, the NSE ASeM Index closed flat,” the reported added.
The positive outlook posted on the Nigerian equities market in the review period, according to Cordros report is due to a significant solely bullish session on Thursday which was driven by increased demand for blue chips and agricultural goods stock.
At the end of the four (4) trading days on the NSE, a turnover of 1.169 billion shares worth N11.961 billion in 17,769 deals were traded this week by investors compared to a total of 2.064 billion shares valued at N17.179 billion that exchanged hands last week in 25,577 deals.
According to the NSE weekly report, the Financial Services Industry (measured by volume) led the activity chart with 796.234 million shares valued at N6.200 billion traded in 10,081 deals; thus contributing 68.13 percent and 51.83 percent to the total equity turnover volume and value respectively.
The report says the Conglomerates Industry followed with a turnover of 239.230 million shares worth N862.503 million in 1,157 deals. While in the third position was the Consumer Goods Industry with 46.984 million shares worth N2.435 billion in 2,811 deals.
Trading in the shares of three (3) top equities including Nigeria’s conglomerate Transnational Corporation of Nigeria Plc and lenders United Bank for Africa Plc and Access Bank Plc, (measured by volume) accounted for 460.340 million shares worth N1.979 billion in 2,903 deals, contributing 39.39 percent and 16.55 percent to the total equity turnover volume and value respectively.
A summary of price changes on the Nigerian equities market shows that 31 equities appreciated in price during the week, lower than 42 reported the past week.
On the contrary, 41 equities depreciated in price, higher than 33 recorded the preceding week, while 120 equities remained unchanged, equal with the previous week.
