Tuesday 17th October, 2017
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Financial services sector buoys market value by 69.63%

Financial services sector buoys market value by 69.63%

Trading on the floor of the Nigerian Stock Exchange remained bullish throughout last week with all market indicators closing on a positive note.
 
The Financial Services Industry (measured by volume) led the activity chart with 1.086 billion shares valued at N9.743 billion traded in 11,229 deals; thus contributing 85.33% and 69.63% to the total equity turnover volume and value respectively.
 
The Consumer Goods Industry followed with 44.786 million shares worth N1.536 billion in 2,853 deals. The third place was occupied by Conglomerates Industry with a turnover of 38.104 million shares worth N75.759 million in 727 deals.
 
A total turnover of 1.272 billion shares worth N13.993 billion in 19,385 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 1.061 billion shares valued at N12.295 billion that exchanged hands the previous week in 18,847 deals.
 
Trading in the top three equities namely – United Bank for Africa Plc, FBN Holdings Plc and Zenith International Bank Plc (measured by volume) accounted for 505.388 million shares worth N5.454 billion in 4,009 deals, contributing 39.73% and 38.98% to the total equity turnover volume and value respectively.
 
Also traded during the week were a total of 25,540 units of Exchange Traded Products (ETPs) valued at N2.646 million executed in 10 deals compared with a total of 5 units valued at N484.85 transacted penultimate week in 1 deal.
 
A total of 2,977 units of Federal Government Bonds valued at N2.946 million were traded last week in 11 deals, compared with a total of 358 units valued at N344.6 million transacted the previous week in 7 deal.
 
INDEX MOVEMENT
 
The NSE All-Share Index and Market Capitalization appreciated by 2.47% to close the week at 33,261.66 and N11.464 trillion respectively.
 
Similarly, all other indices finished higher during the week with the exception of the NSE ASeM index that closed flat.
 
48 equities appreciated in price during the week, higher than 16 equities of the previous week. 27 equities depreciated in price, lower than 51 equities of the previous week, while 97 equities remained unchanged lower than 105 equities recorded in the preceding week.
 
Further analysis showed that the top price gainers were led by Neimeth International Pharmaceuticals Plc which ended the week at 0.81k, thereby appreciating 0.16k which represented 24.62% price change.
 
The second on the advancers’ chart was Unity Bank Plc which gained 0.12k to close trading last week at 0.73k indicating 19.67% change in price.
 
This was followed by Forte Oil Plc. It gained heavy sum of N7.47 to end trading last week at N56.17 which represented 15.34% price change.
 
On the losers’ chart, however, Conoil Plc took the lead, shedding a whooping sum of N6.33 to close transaction at N29.98 representing 17.43% value change. University Press Plc came second as a decliner, losing 0.48k to close trading last week at N2.92 which means 14.12% change in share value.
 
The third on the losers’ chart was Champion Brew Plc which lost 0.35k to end transaction at N2.50.

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