By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-Nigerian equities on Friday closed the week 0.15 percent its fourth consecutive gain as all-share index (ASI) and market capitalisation closing at 30,588.41 and N10.513 trillion respectively.
Similarly, all the Indices finished higher during the week with the exception of the Nigerian Stock Exchange (NSE) Premium, NSE 30, NSE Banking, NSE Insurance and NSE Pension Indices that shed 0.80 percent, 0.08 percent, 1.77 percent, 0.62 percent and 0.15 percent respectively, while the NSE ASeM Index closed flat, according to the Stock Exchange weekly report.
On its part, Cordros weekly market update says investors were upbeat for most of the week, taking advantage of bargain prices on offer with the market posting gains in three (3) out of four (4) trading days during the week. “However, bullish sentiments were tempered in Friday’s session with investors taking profit across most sectors,” the report added.
The NSE says a turnover of 1.666 billion shares worth N14.057 billion in 14,003 deals were traded this week by investors on the floor of local bourse compared to a total of 850.095 million shares valued at N9.060 billion that exchanged hands last week in 9,414 deals.
According to the report, the Financial Services Industry (measured by volume) led the activity chart with 1.376 billion shares valued at N7.823 billion traded in 7,435 deals; thus contributing 82.57 percent and 55.65 percent to the total equity turnover volume and value respectively.
It further reported the ICT Industry followed with a turnover of 91.924 million shares worth N121.429 million in 49 deals. In the third place comes the Consumer Goods Industry with 67.786 million shares worth N2.457 billion in 2,844 deals.
The NSE affirmed that trading in the shares of insurer, Consolidated Hallmark Insurance Plc, lenders Access Bank Plc and United Bank for Africa Plc (measured by volume) accounted for 775.890 million shares worth N1.925 billion in 1,380 deals, contributing 46.56 percent and 13.69 percent to the total equity turnover volume and value respectively.
A summary of price changes according to the NSE shows that 31 equities gained in price during the week, lower than 29 reported the past week. On the contrary, 38 equities dipped in price, higher than 36 equities of the previous week, while 121 equities remained unchanged, higher than 125 recorded in the preceding week.
