NSE Index Hits Highest Gain in 12 Weeks

Enterprise Television- NSE Index Hits Highest Gain in 12 Weeks

Gains resurfaced strongly on the equities market on Friday as the Nigerian Stock Exchange All Share Index (NSE ASI) and Market Capitalisation appreciated by 1.05 per cent and 1.34 per cent to close the week at 41,244.89 and N14.940trn respectively.

The gains pushed the ASI to its highest weekly gain in 12 weeks. It was a week of mixed trading, wherein two sessions of gain – including Friday’s month-high of 1.21 per cent offset three sessions of losses.

A total turnover of 1.825 billion shares worth N24.653bn in 23,148 deals were traded last week by investors on the floor of the exchange in contrast to a total of 3.008 billion shares valued at N30.296bn that exchanged hands in the previous week in 24,036 deals.

The financial services industry (measured by volume) led the activity chart with 1.360 billion shares valued at N14.642bn traded in 12,118 deals; thereby contributing 74.51 per cent and 59.40 per cent to the total equity turnover volume and value respectively.

The consumer goods industry followed with 124.816 million shares worth N6.910bn in 3,709 deals. The third place was occupied by oil and gas industry with a turnover of 112.479 million shares worth N1.389bn in 3,429 deals.

Trading in the top three equities namely; Law Union And Rock Insurance Plc, FBN Holdings Plc and Zenith International Bank Plc (measured by volume) accounted for 581.018 million shares worth N7.098bn in 4,283 deals, contributing 31.83 per cent and 28.79 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 56,260 units of Exchange Traded Products (ETPs) valued at N376,387.48 executed in six deals, compared with a total of 177,144 units valued at N2.809m that was transacted in the previous week in six deals.

Similarly, all other indices finished higher with the exception of NSE Premium, NSE AseM, NSE Insurance, and NSE Industrial Goods indices that depreciated by 0.92 per cent, 0.82 per cent, 1.57 per cent and 4.89 per cent respectively.

Thirty-three equities appreciated in price during the week, lower than 36 in the previous week. 41 equities depreciated in price, higher than 33 equities of the previous week, while 95 equities remained unchanged lower than 100 equities recorded in the preceding week.

A total of 725 units of Federal Government Bonds valued at N660,984.55 were traded this week in 10 deals, compared with a total of 13,735 units valued at N14.128m transacted last week in 16 deals.



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