In Four Days, Equities Record N21.7bn Turnover
Equities listed on the Nigerian Stock Exchange have generated turnover worth N21.68bn in one week as the market capitalisation climbed above the N13tn mark on Friday to close at N13.020tn.
The stock market opened for four trading days last week as the Federal Government declared Wednesday, January 1, 2020 a public holiday to mark the New Year’s Day.
A total turnover of 2.309 billion shares worth N21.675bn in 14,906 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 735.702 million shares valued at N7.132bn that exchanged hands the previous week in 7,138 deals.
The financial services industry (measured by volume) led the activity chart with 1.924 billion shares valued at N10.148bn traded in 9,287 deals; thus contributing 83.31 per cent and 46.82 per cent to the total equity turnover volume and value respectively.
The conglomerates industry followed with 188.538 million shares worth N284.531m in 530 deals.
The third place was occupied by the industrial goods industry, with a turnover of 56.007 million shares worth N4.793bn in 1,304 deals.
Trading in the top three equities namely, Omoluabi Mortgage Bank Plc, Transnational Corporation of Nigeria Plc and Zenith Bank Plc (measured by volume) accounted for 1.131 billion shares worth N3.6bn in 2,249 deals, contributing 48.98 per cent and 16.61 per cent to the total equity turnover volume and value respectively.
For Exchange Traded Products, a total of 4,033 units valued at N4.233m were traded last week in 26 deals, compared with a total of 14,443 units valued at N3.009m transacted the previous week in 19 deals.
A total of 44 equities appreciated in price during the week against 24 losers, compared with the 31gainers and 17 losers recorded in the previous week.
The top five gainers were Cornerstone Insurance Plc, Eterna Plc, Royal Exchange Plc, Vitafoam Nigeria Plc and AXA Mansard Insurance Plc, which recorded respective gains of 39.47 per cent, 20 per cent, 17.86 per cent, 17.50 per cent and 11.11 per cent.
The top five losers for the week were Fidson Healthcare Plc, Union Bank Nigeria Plc, Deap Capital Management & Trust Plc, Omatek Ventures Plc and Learn Africa Plc, whose share prices depreciated by 12.90 per cent, 11.76 per cent, 10 per cent, 10 per cent and 9.60 per cent respectively.
Analysts at Vetiva Capital Management Plc said while last week was positive for the index overall due to some portfolio rebalancing activities, they expected trading this week to be mixed as investors continued to seek attractive markers, while profit-taking activity was likely to persist.
