By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE) – Bulls returned to the Nigerian Stock Exchange (NSE) on Friday as the all-share index (ASI) and market capitalisation appreciated by 0.53 percent to close week at 24,850.11 points and N8.548 trillion respectively.
Similarly, all other Indices finished higher during the week, with the exception of the NSE Consumer Goods Index, NSE Oil/Gas Index and The NSE Lotus Index that declined by 0.83 percent, 0.73 percent and 0.77 percent respectively, the NSE weekly market report affirmed.
According to Cordros weekly stock market update, this week’s gains were mostly driven by investors’ reactions to some Q1-2016 earnings releases that trickled into the market. “Both banking and consumer goods results (except GUINNESS’) during the week beat consensus, suggesting better-than-expected start to 2016,” Cordros said.
Cordros reported that the gain recorded this week cut the Year-to-Date loss to 13.24 percent and at the close of the week’s trading on the domestic bourse, a turnover of 885.367 million shares worth N5.829 billion in 13,870 deals were traded by investors compared to a total of 8.054 billion shares valued at N13.328 billion that exchanged hands last week in 15,212 deals.
The NSE reported that the Financial Services Industry measured by volume led the activity chart with 747.817 million shares valued at N3.832 billion traded in 8,768 deals; thus contributing 84.46 percent and 65.73 percent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 45.517 million shares worth N977.579 million in 2,145 deals. The third place was occupied by the Agriculture Industry with a turnover of 32.313 million shares worth N48.460 million in 247 deals.
Trading in the shares of Nigeria’s top tier lenders, Zenith Bank Plc, Guaranty Trust Bank Plc and United Bank for Africa Plc measured by volume accounted for 290.319 million shares worth N3.015 billion in 3,795 deals, contributing 32.79 percent and 51.72 percent to the total equity turnover volume and value respectively.
Also traded during the week were a total of 4,511 units of Exchange Traded Products (ETPs) valued at N1.401 million executed in 38 deals, compared with a total of 690 units valued at N572,158.80 transacted last week in 28 deals.
In terms of Bonds, a total of 3,241 units of Federal Government and Corporate Bonds valued at N3.579 million were traded in 4 deals compared to a total of 28,280 units of Federal and State Government Bonds valued at N29.572 million transacted last week in 8 deals.
A summary of price changes in the review period shows that 35 equities gained in price during the week, higher than 26 posted the previous week. On the flipside, 32 equities lost in price, lower than 41 declared last week, while 122 equities remained unchanged same as the previous week.
Click to view NSE’s Weekly Stock Market Report for the period ended April 22, 2016
