Investors trading on NSE reap 0.67% returns in 4 days

0
102
nse

As the federal government declared Friday public holiday, to mark the end of the Holy Month of Ramadan and commemorate the Eid-al-Fitr celebrations, investors on the Nigerian Stock Exchange (NSE) gained 0.67 per cent of their investment in four days trading.

The equities market, last week, sustained a bullish, hinged on supportive positive macroeconomic fundamentals, as the gains recorded previous week were further extended on the equities market in the week ended June 14 2018, with forecasts of bullish week ahead.

Specifically at the end of the four-day trading, the NSE All Share Index inched up by 0.67 per cent to close at 38,928.02 basis points from 38,669.23 basis points, while market capitalisation closed at N14.102 trillion, after gaining N98 billion from N14.008 trillion the market opened for trading.

All other indices finished higher with the exception of the NSE CG, NSE Consumer Goods and NSE Industrial Goods Indices that depreciated by 0.08per cent, 0.85per cent and 0.12per cent respectively, while the NSE ASeM Index closed flat.

Consequently, equities market Year-to-Date and Month-to-Date returns at a positive region of 1.79 per cent and 2.16 per cent respectively.

According to NSE, “a total turnover of 1.738 billion shares worth N18.462 billion in 14,790 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.749 billion shares valued at N31.183 billion that exchanged hands last week in 24,604 deals.

“The Financial Services Industry (measured by volume) led the activity chart with 1.170 billion shares valued at N9.695 billion traded in 7,809 deals; thus contributing 67.35per cent and 52.51per cent to the total equity turnover volume and value respectively. The Services Industry followed with 293.492 million shares worth N733.407 million in 531 deals.

“The third place was occupied by Consumer Goods with a turnover of 154.093 million shares worth N4.997 billion in 3,002 deals.

“Trading in the Top Three Equities namely – United Capital Plc, Ikeja Hotel Plc and United Bank For Africa Plc (measured by volume) accounted for 811.747 million shares worth N3.887 billion in 986 deals, contributing 46.71per cent and 21.05per cent to the total equity turnover volume and value respectively.

The recorded growth was on the back of interests in the shares of Japaul oil Plc – which remained last week’s leading stock, as well as Equity Assurance and Union Bank of Nigeria Plc.

On the other hand, profit-taking in Nigerian Breweries and Berger accounted for losses in consumer and industrial goods indices.

LEAVE A REPLY

Please enter your comment!
Please enter your name here