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Fidelity, Caverton, FCMB top advancers’ league as Resort Savings, Sovereign Trust, Medview decline most

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In stock trading week ended January 25, 2019 investors shows increased interest in the shares of tier-2 lender Fidelity Bank Plc which made the stock price to garner highest value compared to other stocks on the Nigerian Stock Exchange (NSE).

In the period under review, the Nigerian Stock Exchange All-Share Index (ASI) increased by 1.36percent to 31,426.63 points as against 31,005.17 points recorded the preceding trading week. Forty (40) equities appreciated in price during the review week, more than 38 in the preceding week.

Fidelity Bank led the basket of advancers after its share price increased from N2.01 to N2.50, gaining 49kobo or 24.38percent. In the same vein, the share price of Caverton Offshore Support Group Plc rallied, from N1.90 to N2.33, adding 43kobo or 22.63percent; while FCMB Group Plc stock price increased from N1.76 to N2.15, after adding 39kobo or 22.16percent.

Also, Access Bank Plc increased from N5.60 to N6.50, adding 90kobo or 16.07percent; Royal Exchange Plc increased from 27kobo to 31kobo, adding 4kobo or 14.81percent. Red Star Express Plc made the top gainers list after its share price increased from N4.40 to N5, adding 60kobo or 13.64percent.

Wema Bank Plc rallied from 62kobo to 70kobo, adding 8kobo or 12.90percent. First Aluminium Nigeria Plc stock price moved up from 31kobo to 35kobo, adding 4kobo or 12.90percent. Aiico Insurance Plc increased from 63kobo to 71kobo, up 8kobo or 12.70percent; followed by Linkage Assurance Plc which gained 7kobo, from 56kobo to 63kobo, adding 7kobo or 12.50percent.

Twenty-five (25) equities depreciated in price, lower than 29 in the preceding week, while 103 equities remained unchanged higher than 102 equities that remained unchanged in the preceding week.

Resort Savings & Loans Plc recorded the highest decline, from 26kobo to 20kobo, losing 6kobo or 23.08percent. Sovereign Trust Insurance Plc followed after its share price decreased from 26kobo to 21kobo, down by 5kobo or 19.23percent; while Medview Airline Plc was also down from N2.05 to N1.85, losing 20kobo or 9.76percent.

Mcnichols Plc stock was also down from 43kobo to 39kobo, losing 4kobo or 9.30percent. Union Bank Nigeria Plc stock price was up, from N6.75 to N6.15, adding 60kobo or 8.89percent. E-Tranzact International Plc dipped from N3.56 to N3.25, losing 31kobo or 8.71percent.

Consolidated Hallmark Insurance Plc declined from 38kobo to 35kobo, down by 3kobo or 7.89percent. Seplat Petroleum Development Company Plc lost N36 or 6.25percent, from N576 to N540.

Fidson Healthcare Plc stock price decreased from N4.95 to N4.70, after losing 25kobo or 5.05percent; while that of Mutual Benefit Insurance Plc lost 1kobo or 4.76percent, from 21kobo to 20kobo.

The value of stocks listed on the Nigerian Bourse increased by about N157 billion in the trading week under review as investors realised the need to buy low priced stocks. The market capitalisation which opened at N11.562 trillion closed the review week at N11.719 trillion. The year-to-date negative return stood at 0.01percent.

All other indices finished higher with the exception of the NSE ASeM, NSE Consumer Goods, NSE Oil/Gas, NSE Lotus II and NSE Industrial Goods Indices that depreciated by 0.17percent, 0.41percent, 1.32percent, 0.60percent and 2.02percent respectively.

The market recorded total turnover of 1.807 billion shares worth N17.232 billion in 18,332 deals in contrast to a total of 1.270 billion shares valued at N13.463 billion that exchanged hands the preceding week in 16,476 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.625 billion shares valued at N14.696 billion traded in 11,778 deals; thus contributing 89.93percent and 85.28percent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 83.560 million shares worth N138.309 million in 951 deals; followed by Consumer Goods Industry with a turnover of 36.251 million shares worth N1.002 billion in 2,224 deals.

Trading in the Top Three Equities –Diamond Bank Plc, Access Bank Plc and Guaranty Trust Bank Plc (measured by volume) accounted for 871.524 million shares worth N8.488 billion in 3,305 deals, contributing 48.23percent and 49.25percent to the total equity turnover volume and value respectively.

 

Iheanyi Nwachukwu

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