Stock Market Investors Gain N19.48bn in One Week

Festus Akanbi

Investors on the floor of the Nigerian Stock Exchange, traded a turnover of 1.668 billion shares worth N19.481 billion in 25,979 deals during the week ended, February 25, THISDAY gathered.

This is in contrast to 1.713 billion shares valued at N30.764 billion that exchanged hands in 24,767 deals on February 18.

According to NGX on its Website, the Financial Services Industry (measured by volume) led the activity chart with 1.120 billion shares valued at N10.889 billion traded in 13,514 deals.

The figure contributed 67.13 per cent and 55.89 per cent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 242.945 million shares worth N395.228 million in 1,418 deals.

The third place was the Consumer Goods Industry, with a turnover of 80.368 million shares worth N1.958 billion in 3,876 deals.

Trading in the top three equities namely Transnational Corporation of Nigeria Plc, United Capital Plc and Zenith Bank Plc (measured by volume) accounted for 491.673 million shares worth N5.411billion in 4,277 deals.

It also contributed 29.48 per cent and 27.78 per cent to the total equity turnover volume and value respectively.

Meanwhile, the equities market of the Nigerian Exchange Ltd. (NGX) on Friday appreciated by N30 billion, following the gains recorded by 21 companies and 17 losers.

Specifically, the market capitalisation closed for trading at N25.507 trillion, compared with N25.477 trillion on Thursday; an increase of N30 billion, representing 0.12 per cent.

Also, the NGX All-Share Index appreciated by 0.12 per cent, increasing to 47, 328.04 basis points, from 42,272.04 basis points recorded on Thursday.

On sector performances, Banking and Consumer Goods indices closed positive, growing by 0.25 per cent and 0.15 per cent respectively.

The NGX Industrial Goods dropped by 0.02 per cent while the oil and gas sector closed flat.

The market breadth index was positive with 21 gainers against 17 losers.

Etranzact Plc led the gainer’s chart on Friday, closing with 9.92 per cent to close at N2.66, followed by Royal Exchange Plc which grew by 9.65 per cent to close at N1.25.

RTbriscoe increased by 9.30 per cent to close at N0.94 per share, while Niger Insurance gained 7.69 per cent to close at N0.28.

Cornerstone added 7.69 per cent to close at N0.70.

On the losers’ chart, Cutix led with a drop of 8.47 per cent to close at N2.70, followed by NEM insurance which depreciated by five per cent to close at N3.80.

Veritaskap down by 4.35 per cent to close at N0.22 as Wapic Insurance dropped by four per cent to close at N0.48.

In addition, UPDC shed 3.70 per cent to close on Friday at N1.04.

In terms of activity levels, total volume and value decreased by 26per cents and 29per cents respectively, as investors exchanged about 253 million units of shares worth N2.75 billion in 4266 deals.

FCMB was the most actively traded stock with about 50 million units of shares worth about N152 million, followed by Transcorp which traded stock about 36.9 million units of share worth about N45.58 million.

According to analysts at InvestmentOne research; “The equities market closed in the green territory today due to the gains recorded in the Banking and Consumer Goods sectors.

“Going forward, we expect investors’ sentiments to be swayed by the search for real positive returns and developments in the interest rate space.

“We reiterate that this may be a great period to pick up some quality names with a medium to the long-term investment horizon.”