Equities market adds N672bn over Investors’ bargain hunting in value stocks

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The equities market of The Nigerian Stock Exchange (NSE) gained N672 billion in one week active trading over investors’ bargain hunting in value listed stocks on The Exchange.

The market capitalization appreciated by 5.04 per cent or N672 billion to N14.008 trillion from N13.336 trillion it closed in prior week’s trading.

Similarly, The NSE All-Share Index surged by 5.03 per cent week on week (w/w) to 39,042.11 basis points from 36,816.29 basis points, driven by investors taking position in value stocks across major sectors.

As a result of the gain in market indicators, the Year-to-Date and Month-to-Date returns turned positive, at 1.11per cent and 1.48per cent, respectively.

Demands for Wapco, NB, and Fidelity Bank Plc stocks supported the gains posted by the Industrial Goods (+9.36per cent), Consumer Goods (+6.55per cent), and Banking (+4.48per cent) indices, while declines in the Oil & Gas (-1.34per cent) and Insurance (-0.61per cent) indices were largely on the back of losses in the shares of Total Nigeria Plc and Hall Mark Insurance Plc.

According to NSE weekly report, a total turnover of 1.749 billion shares worth N31.183 billion in 24,604 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 2.699 billion shares valued at N84.775 billion that exchanged hands in prior week’s in 19,715 deals.

“The Financial Services Industry (measured by volume) led the activity chart with 1.423 billion shares valued at N19.717 billion traded in 13,950 deals; thus contributing 81.37per cent and 63.23per cent to the total equity turnover volume and value respectively.

“The Consumer Goods Industry followed with 153.105 million shares worth N6.805 billion in 4,512 deals. The third place was occupied by Conglomerates Industry with a turnover of 60.473 million shares worth N186.600 billion in 905 deals.

“Trading in the Top Three Equities namely – Guaranty Trust Bank Plc, Access Bank Plc and Zenith Bank International Plc (measured by volume) accounted for 588.605 million shares worth N16.568 billion in 4,120 deals, contributing 33.65per cent and 53.14per cent to the total equity turnover volume and value respectively.

The report by NSE stated that a total of 202,916 units of Exchange Traded Products (ETPs) valued at N1.168 million executed in 19 deals, compared with a total of 22,080 units valued at N393,726.30 that was transacted last week in 10 deals.

In addition, “a total of 10,561 units of Federal Government valued at N10.381 million were traded this week in 20 deals, compared with a total of 6,433 units valued at N6.599 million transacted last week in 12 deals,” the weekly report by NSE explained.

Findings by Nigerian NewsDirect revealed that Japaul Oil & Maritime Services Plc, followed by Prestige Assurance Co. Plc and NASCON Allied Industries Plc top gainers chat last week while NPF Microfinance Bank Plc, Consolidated Hallmark Insurance Plc and First Aluminium Nigeria Plc top three price decliners.

The stock price of Japaul Oil & Maritime Services appreciated by 40.91 per cent or N0.09 to N0.31 from N0.22 while Prestige Assurance Company stock price gained 39.58 per cent or N0.19 to N0.67.

NASCON Allied Industries appreciated by 17.89 or 3.40 to N22.40 as against N19.00 it opened for trading last week.

NPF Microfinance bank reported 14.51 per cent or N0.28 decline in stock price to N1.65 from N1.93 while Consolidated Hallmark Insurance stock price dropped by 12.90 per cent or N0.04v to N0.27 from N0.31

In addition, First Aluminum Nigeria stock price moved to N0.40 from N0.44 after losing 9.09 per cent or N0.04 in last’s transactions.

 

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