By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Friday ended the week on a positive note, as all-share index (ASI) and market capitalisation gained 0.60 percent to close at 30,011.89 basis points and N10.314 trillion respectively, halting two weeks of negative declines.
Similarly, all other Indices finished higher during the week with exception of NSE Insurance, NSE Consumer Goods and NSE Lotus Islamic indices that declined by 0.81 percent, 0.49 percent and 0.42 percent respectively, while NSE ASeM Index closed flat, the NSE’s weekly stock market report said.
According to the weekly update, a turnover of 992.719 million shares worth N13.121 billion in 14,252 deals were traded this week by investors on the floor of local bourse compared to a total of 949.675 million shares valued at N10.280 billion that exchanged hands last week in 14,833 deals.
The report affirmed the Financial Services Industry (measured by volume) led the activity chart with 712.270 million shares valued at N4.989 billion traded in 7,921 deals; thus contributing 71.75 percent and 38.02 percent to the total equity turnover volume and value respectively.
It said the Oil and Gas Industry followed with a turnover of 124.811 million shares worth N1.959 billion in 1,695 deals. While in the third position came the Industrial Goods Industry with 47.275 million shares worth N2.754 million in 606 deals.
The report says trading in the shares of oil marketer, Oando Plc, lenders Access Bank Plc and Zenith International Bank Plc (measured by volume) accounted for 290.740 million shares worth N3.073 billion in 2,941 deals, contributing 29.29 percent and 23.42 percent to the total equity turnover volume and value respectively.
Cordros in its weekly market update reported that the Banking and Industrial Goods sectors closed the week with gains of 1.38 percent and 0.08 percent respectively courtesy of rallies in the shares of Guaranty Trust Bank Plc by 4.2 percent growth and cement producer, Dangote Cement Plc by 1.2 percent.
The Cordros update further affirmed the Oil & Gas sector with 3.08 percent closed the week in the positive, on the back of gains in the shares of Oando and Mobil Oil Nigeria Plc by 7.1 percent and 4.1 percent respectively.
On the contrary, it reported the Consumer Goods sector declined 0.49 percent to close the week following losses in the shares of soap and detergent producer Unilever Nigeria Plc by 8.8 percent and brewer Guinness Nigeria Plc with a loss of 5.2 percent.
In the same vein, the Insurance sector declined 0.81 percent following price declines in the shares of Continental Re-Insurance Plc and Axa Mansard Insurance Plc by 5.0 percent and 1.1 percent respectively.
In terms of market breadth, a summary of price changes according to the NSE’s report shows that 26 equities appreciated in price during the week, lower than 29 recorded the previous week. On the contrary, 37 equities depreciated in price; lower than 39 of the preceding week, while 127 equities remained unchanged, higher than 122 recorded the past week.
