Stock Market Generated N83.22bn Turnover In October
equities listed on the Nigerian Stock Exchange generated a turnover of N83.22bn from 6.08 billion shares, which were traded in 61,556 deals in October.
Data obtained from the NSE showed that for the week ended October 4, 2019, 660.654 million shares worth N9.189bn were traded for the week.
In the week ended October 11, a total turnover of 1.41 billion shares worth N31.959bn was recorded while 896.610 million shares worth N16.561bn were traded in the week ended October 18.
At the end of the last week in October, a total turnover of 2.051 billion shares worth N16.126bn was recorded.
The equity market traded in positive and negative territories last week as the All Share Index ended the week on a negative note, shedding 21 basis points week-on-week.
Analysts said capital depreciations in the banking and consumer goods sectors dampened the performance of the index, even as all other sectors closed the week positively.
The oil and gas sector was the best performer last week.
Gains in Cement Company of Northern Nigeria Plc and Dangote Cement Plc lifted the industrial goods sector up by 105bps week-on-week.
In addition, a positive reaction to Seplat Petroleum Development Company Plc’s nine-month results saw the oil explorer gain 928bps, capping the week as one of the best performing stocks on the stock exchange.
The firm also announced an interim dividend of $0.05 per share, which caught investors’ attention and sent the stock soaring.
On the back of this, trading volumes increased by 20.72 per cent week-on-week to 1.51 billion shares, with value traded advancing by three per cent week-on-week to N16.192bn.
At the end of the last week, the financial services industry (measured by volume) led the activity chart with 1.301 billion shares valued at N10.020bn traded in 10,204 deals; thus contributing 86.08 per cent and 61.88 per cent to the total equity turnover volume and value, respectively.
The Information and Communications Technology industry followed with 59.862
million shares worth N3.1 75bn in 487 deals.
The third place was occupied by the conglomerates industry with a turnover of 53.268 million shares worth N125.514m in 525 deals.
Trading in the top three equities namely, Veritas Kapital Assurance Plc, Zenith Bank Plc and FCMB Group Plc (measured by volume) accounted for 749.819 million shares worth N4.727bn in 2,446 deals, contributing 50 per cent and 29.19 per cent to the total equity turnover volume and value, respectively.
During the week, 27 equities appreciated in price while 18 losers were recorded, compared to the 18 gainers and 33 losers recorded in the previous week.
The top gainers were University Press Plc, Cornerstone Insurance Plc, AIICO Insurance Plc, Red Star Express Plc and Seplat Petroleum Development Company Plc, which saw respective gains of 24.35 per cent, 18.42 per cent, 11.11 per cent, 9.88 per cent and 9.28 per cent.
The top losers were Champion Breweries Plc, Afromedia Plc, Livestock Feeds Plc, Unity Bank Plc and Law Union and Rock Insurance Plc, whose respective share prices shed 11.76 per cent, 9.76 per cent, eight per cent, 7.94 per cent and 6.67 per cent.
Analysts at Vetiva Capital Management Limited said they expected trading to open stronger this week as investors positioned in some stocks that offered high dividend yields as well as impressive upside potential.
