By InvestAdvocate
Lagos (INVESTADVOCATE)- The Nigerian Stock Exchange (NSE) on Friday marked a third successive week of upbeat performance, with the all-share index (ASI) advancing by 0.31 percent week-on-week (w/w) to close at 28,335.40 points and N9.733 trillion respectively.
“Similarly, all other Indices finished higher during the week, with the exception of the NSE Banking, NSE Lotus, NSE Industrial Goods and the NSE Pension Indices that depreciated by 2.26 percent, 0.23 percent, 0.84 percent and 0.59 percent respectively while the NSE ASeM Index closed flat,” the NSE’s weekly stock market report said.
The week’s performance increased the Month-to-Date gain to 2.67 percent, “reflecting a mix bag of profit-taking and bargain hunting, which ended with a bullish bias,” according to Cordros weekly market update.
At the close of the week’s trading on the domestic bourse, the NSE reported a turnover of 1.287 billion shares worth N9.303 billion in 15,258 deals traded by investors compared to a total of 4.331 billion shares valued at N16.803 billion that exchanged hands last week in 16,797 deals.
According to the NSE, the Financial Services Industry measured by volume led the activity chart in the review week with 970.503 million shares valued at N4.540 billion traded in 8,298 deals; thus contributing 75.41 percent and 48.80 percent to the total equity turnover volume and value respectively. The Agriculture Industry followed with 109.788 million shares worth N155.716 million in 269 deals. The third place was occupied by the Consumer Goods Industry with a turnover of 82.938 million shares worth N2.774 billion in 2,884 deals.
The NSE reports that trading in the shares of Continental Reinsurance Plc, FCMB Group Plc and Livestock Feeds Plc measured by volume accounted for 463.640 million shares worth N516.306 million in 770 deals, contributing 36.03 percent and 5.55 percent to the total equity turnover volume and value respectively.
Also traded during the week were a total of 4.761 million units of Exchange Traded Products (ETPs) valued at N25.821 million executed in 45 deals, compared with a total of 615 units valued at N6, 070.20 transacted last week in 21 deals.
A total of 2,023 units of Federal Government Bonds valued at N1.925 million were traded in 4 deals compared to a total of 3,994 units of Federal Government Bonds valued at N3.263 million transacted last week in 5 deals.
A summary of price changes in the review week shows that 35 equities gained in price, higher than 33 posted the previous week. 32 equities declined in price, higher than 25 declared past week, while 113 remained unchanged lower than 122 recorded in the preceding week.
“Given three consecutive weeks of bullish performance – not supported by a strong positive catalyst – we prognosticate profit-taking to dominate trading activities in the coming week,” Cordros said in its outlook for next week.
Click here to download the NSE’s weekly stock market report for the period ended Septemebr 30, 2016
