The value of Nigeria’s listed stocks increased by about N242billion in the first trading week in 2018 as investors continued the hunt for value counters.
The NSE All-Share Index appreciated by 1.78percent to close last week at 38,923.26 points, from 38,243.19 points the preceding week.
Market capitalisation rose to N13.851 trillion from N13.609trillion recorded the preceding trading week.
“Given decent interest across board, as well as the overall positive market sentiment – indicated by the widely positive market breadth at week close, we foresee further bullish trading at week open”, said research analysts at Vetiva Capital Management Limited.
All other indices finished higher last week, with the exception of the NSE Premium, NSE ASeM and NSE Lotus II Indices that depreciated by 0.58percent, 1.44percent and 0.82percent respectively.
Fifty-five (55) equities appreciated in price last week, higher than thirty-two (32) in the preceding week. Twelve (12) equities depreciated in price, lower than twenty-five (25) equities in the preceding week, while 105 equities remained unchanged lower than 115 equities recorded in the preceding week.
It was a four-day trading week as the Federal Government declared January 1, 2018 a public holiday in commemoration of the New Year celebration.
The stock market recorded a total turnover of 2.417 billion shares worth N18.813 billion in 20,874 deals last week in contrast to a total of 1.310 billion shares valued at N12.635 billion that exchanged hands the preceding week in 9,016 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.677 billion shares valued at N8.734 billion traded in 13,033 deals; thus contributing 69.39percent and 46.43percent to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 536.92million shares worth N1.258 billion in 1,288 deals; and Consumer Goods Industry with a turnover of 100.460 million shares worth N6.951 billion in 3,426 deals.
Trading in the top three equities– Transnational Corporation of Nigeria Plc, Diamond Bank Plc and Skye Bank Plc (measured by volume) accounted for 1.193 billion shares worth N1.681 billion in 2,957 deals, contributing 49.37percent and 8.93percent to the total equity turnover volume and value respectively.
NASD closed its trading day on Friday 5, January, 2018 lower compared to the preceding Friday. The Market Capitalisation depreciated by 0.64percent last week, closing lower at N406.71 billion as against N409.34 billion in the preceding week. The NASD Unlisted Securities Index (USI) also decreased by 0.64percent last week to close at 600.99 points, as against 604.88 points the preceding Friday. NASD OTC Securities Exchange currently trades Equity and Bonds. Of the 34 securities admitted to trade on the OTC Market, Friesland Campina Wamco Nigeria Plc led both market volume and value. The securities of Mass Telecom Innovation Plc (MTI) have been admitted to trade on the NASD OTC Market by way of Security Admission. The securities were introduced to the OTC Market by Apel Asset Limited.
