By Goddy Egene
Sustained demand for bellwethers made the stock market to maintain its positive momentum with the Nigerian Stock Exchange (NSE) All-Share Index (ASI) rising slightly by 0.35 per cent to close at 25,309.37. However, the value of trading was lower than previous week’s performance.
In all, investors staked N7.384 billion on 1.072 billion shares in 16,684 deals, compared with N10.123 billion invested in 950.414 million shares exchanged in 16,647 deals the previous week.
But the Financial Services industry led the activity chart with 586.761 million shares valued at N4.022 billion traded in 8,483deals, thus contributing 54.8 per cent and 54.5 per cent to the total equity turnover volume and value respectively. The Conglomerates industry closed as the second most active with 307.744 million shares worth N799.159 million in 1,010 deals, while the Consumer Goods industry, occupied the third positive with a turnover of 50.170 million shares worth N968.272 million in 3,018deals.
Trading in the top three equities namely, Transnational Corporation of Nigeria Plc, UAC of Nigeria Plc and United Bank for Africa Plc, accounted for 396.337million shares worth N1.373 billion in 1,845 deals, contributing 36.9 per cent and 18.6 per cent to the total equity turnover volume and value respectively.
In terms of price movement, 29 equities appreciated in price last week lower than 31 equities in the previous week just as 36 equities depreciated in price, higher than 27 equities in the previous week.
University Press Plc led the price gainers with 31.4 per cent, trailed by FTN Cocoa Process Plc with 20 per cent, just as Champion Breweries Plc appreciated by 19.2 per cent.
NEM Insurance Plc and PZ Cussons Nigeria Plc gained 9.09 per cent and 7.6 per cent respectively, while Unity Bank Plc and AXA Mansard Insurance Plc chalked up 7.6 per cent and 7.5 per cent in that order.
Unilever Nigeria Plc ended last week with a gain of 7.5 per cent, just as Wapic Insurance Plc garnered 6.1 per cent. The underwriting firm recently changed its name to Coronation Insurance Plc, a development its explained was aimed at enabling the company reflect its independence, achieve set goals and in line with ongoing transformations in the nation’s insurance industry.
Conversely, Beta Glass Plc led the price losers with 9.9 per cent, trailed by Arbico Plc that shed 9.5 per cent. C & I Leasing Plc went down by 9.0 per cent. The Managing Director of the company recently disclosed of plans to raise additional funds between N10 billion and N13 billion to boost its operations.
Consolidated Hallmark Insurance lost 8.1 per cent, while Cutix Plc and Fidson Healthcare Plc went down by 7.8 per cent and 7.2 per cent respectively.
Guinness Nigeria Plc, African Prudential Plc and Transcorp were among the top price gainers, losing 6.9 per cent, 6.6 per cent and 6.5 per cent respectively.
