The Nigerian stock market gained approximately N334billion in the trading week ended Friday February 8 as more investors leveraged attractive entry opportunities created by many value stocks that are currently priced low.
No fewer than fifty-three (53) equities appreciated in price in the review week, higher than 16 in the preceding week. Twenty-one (21) equities depreciated in price, lower than 50 equities in the preceding week, while 94 equities remained unchanged lower than 102 equities recorded in the preceding week.
The Nigerian Stock Exchange (NSE) All Share Index (ASI) appreciated by 2.92percent week-on-week (wow) to close at 31,529.92 points as against 30,636.36 points the preceding week while the value of listed equities –the market capitalisation closed at N11.758 trillion from a low of N11.424 trillion in the preceding trading weekend.
The year-to-date (ytd) return stood positive at 0.32percent. All other indices finished higher with the exception of the NSE Industrial Goods Index that depreciated by 0.66percent.
Regency Assurance Plc recorded the highest gain after its share price increased from 21kobo to 25kobo, adding 4kobo or 19.05percent; followed by that of Dangote Flour Mills Plc which increased from N5.80 to N6.85, adding N1.05 or 18.10percent; while Guaranty Trust Bank Plc increased from N33.70 to N38.65, adding N4.95 or 14.69percent.
On the losers list, Royal Exchange Plc occupied topmost position after its share price declined from 30kobo to 26kobo, down by 4kobo or 13.33percent; Guinea Insurance Plc followed after its share price declined from 23kobo to 20kobo, losing 3kobo or 13.04percent; while that of Champion Breweries Plc decreased from N1.80 to N1.62, losing 18kobo or 10percent.
The stock market recorded turnover of 1.894 billion shares worth N26.884 billion in 19,213 deals in contrast to a total of 1.452 billion shares valued at N14.788 billion that exchanged hands the preceding week in 19,318 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.498 billion shares valued at N19.724 billion traded in 12,581 deals; thus contributing 79.10percent and 73.37percent to the total equity turnover volume and value respectively.
The Consumer Goods Industry followed with 144.426 million shares worth N4.552 billion in 2,484 deals, followed by Conglomerates Industry with a turnover of 143.320 million shares worth N220.050 million in 998 deals.
Trading in the Top Three Equities namely, United Bank for Africa Plc, Zenith Bank Plc and FBN Holdings Plc (measured by volume) accounted for 791.318 million shares worth N10.817 billion in 5,046 deals, contributing 41.79percent and 40.23percent to the total equity turnover volume and value respectively.
Also traded during the review week were a total of 6,590 units of Exchange Traded Products (ETPs) valued at N55,711.29 executed in 2 deals compared to a total of 668 units valued at N58,897.50 that were transacted the preceding week in 21 deals. A total of 2,668 units of Federal Government Bonds valued at N2.886 million were traded in 14 deals compared with a total of 4,336 units valued at N4.308 million transacted the preceding week in 26 deals.
Iheanyi Nwachukwu
