By InvestAdvocate
Lagos (INVESTADVOCATE)-Nigerian equities on Friday ended an eight week bearish run as all-share index (ASI) and market capitalisation gained 0.14 percent and 0.27 percent week-on-week (W/W) to close at 31,091.69 basis point and N10.657 trillion respectively.
Cordros weekly market update says the appreciation led to a reduction in the Month-to-Date (M-t-D) and Year-to-Date (Y-t-D) returns on the Nigerian bourse to a negative 7.07 percent and 10.29 percent respectively.
Similarly, all the indices finished higher during the week, with the exception of Banking, Insurance, ASeM, and Pension Indices that closed lower, the Nigerian Stock Exchange (NSE) weekly stock market report said.
According to the Cordros update, demand for the shares of oil marketers, Oando Plc and Mobil Nigeria Plc led to a 1.55 percent rise in the Oil/Gas index, the highest amongst all five (5) NSE sector indices. “The Consumer Goods and Industrial indices followed with respective gains of 0.42 percent and 0.41 percent w/w. However, the Insurance and Banking indices declined by 2.00 percent and 1.65 percent respectively,” the report added.
The NSE affirmed that at the end of the week’s transaction, a turnover of 1.727 billion shares worth N23.389 billion in 15,043 deals were traded this week by investors compared to a total of 1.187 billion shares valued at N20.259 billion that exchanged hands last week in 14,349 deals.
It said the Financial Services Industry (measured by volume) led the activity chart with 1.343 billion shares valued at N17.982 billion traded in 7,612 deals; thus contributing 77.80 percent and 76.88 percent to the total equity turnover volume and value respectively.
This was followed by the Healthcare Industry with a turnover of 184.005 million shares worth N109.613 million in 358 deals. On the third position was the Conglomerates Industry with 71.320 million shares worth N276.503 million in 937 deals.
The report further affirmed that trading in the shares of lender Zenith International Bank Plc.; clinical services firm, Union Diagnostic & Clinical Services Plc and Africa’s global bank, United Bank for Africa Plc, (measured by volume) accounted for 1.028 billion shares worth N14.007 billion in 1,467 deals, contributing 60 percent and 59.89 percent to the total equity turnover volume and value respectively.
At the close of the week’s transactions on the Nigerian bourse, a summary of price changes shows that 28 equities gained in price during the week, higher than 13 recorded the previous week, while 44 equities lost in price lower than 57 of the past week. While 118 equities remained unchanged, lower than 120 reported in the preceding week.
