Equities market sustains positive trend by 1.60%

The Nigerian equities market appreciated for the second consecutive, time recording an increase of 1.60 per cent in All-Share Index of the Nigerian Stock Exchange (NSE) and Market capitalization.

The growth was preceded by demand for banking stocks which led to the highest of 1.83 percent in the banking index. This was followed by consumer goods index which also appreciated 1.12 per cent following demand in Unilever that added 5.65 per cent.

The NSE All-Share Index and Market Capitalization appreciated by 1.60% and 1.63% to close the week at 33,810.56 and N11.692 trillion respectively.

Similarly, all other Indices finished higher during the week with the exception of the NSE ASeM ,NSE Oil/Gas, NSE Lotus II and NSE Industrial Goods Indices that depreciated by 0.32%, 4.20%, 0.71%, and 0.28% respectively.

May and Baker for the third day in a row led the gainers’ table, increasing by 9.79 per cent to close at N4.56 per share.

Skye Bank followed with a gain of 9.52 per cent to close at 75 kobo and Unilever gained 5.65 per cent to close at N42.99 per share.

UAC Prop appreciated by 5.00 percent to close at N2.94, while Fidson grew by five per cent to close at N3.30 per share.

On the other hand, International Breweries Plc led the losers’ chart, dropping by 6.18 per cent to close at N26.05 per share.

Forte Oil Plc trailed with a loss of 8.72 per cent to close at N55.58 and Learn Africa Plc declined by 12.83 per cent to close at 83k per share.

Neimeth was down by 4.41 percent to close at 65 kobo, while Mobil depreciated by 4.06 per cent to close at N265 per share.

At the end of the day’s transactions volume of shares traded in 6584 deals declined 24 per cent.

A total turnover of 2.737 billion shares worth N32.042 billion in 32,217 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 3.100 billion shares valued at N29.180 billion that exchanged hands last week in 33,677deals.

Trading in the Top Three Equities namely – Access Bank Plc, Zenith International Bank Plc and Transnational Corporation of Nigeria Plc (measured by volume) accounted for 918.046 million shares worth N10.324 billion in 5,809 deals, contributing 33.53% and 32.22% to the total equity turnover volume and value respectively.

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