The stock market of Africa’s largest economy closed the trading week to April 30 on a positive note.
Thirty-six (36) equities appreciated in price in the review week, lower than 39 in the preceding week. Forty-one (41) equities depreciated in price higher than 24 equities in the preceding week, while 85 equities remained unchanged, lower than 99 equities recorded in the preceding week.
The All-Share Index and Market Capitalization appreciated by 1.36percent to 39,834.42 points and N20.847 trillion respectively.
Looking ahead, Lagos-based analysts at Vetiva Securities said they foresee a return to the mild levels of activity witnessed throughout the review week, “as most companies have now released first quarter (Q1) results. “Therefore, we expect activity levels to be muted once more, while sentiment remains tepid and liquidity persists at current levels”.
In the review trading week, all other indices finished higher with the exception of NSE CG, NSE Banking, NSE-AFR Bank Value, NSE AFR Div Yield , NSE MERI Value, NSE Consumer Goods, NSE Growth Index and NSE Sovereign Bond Index which depreciated by 0.15percent, 2.09percent, 1.87percent, 0,76percent, 2.77percent, 0.02percent 0.46percent and 7.09percent respectively, while the NSE ASeM Index closed flat.
The market recorded total turnover of 1.441 billion shares worth N10.883 billion in 19,614 deals, in contrast to a total of 1.602 billion shares valued at N42.142 billion that exchanged hands in preceding week in 19,507 deals.
The Financial Services Industry (measured by volume) led the activity chart with 970.560 million shares valued at N6.779 billion traded in 10,876 deals; thus contributing 67.36percent and 62.30percent to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 234.966 million shares worth N387.565 million in 1,320 deals, and Consumer Goods Industry, with a turnover of 61.614 million shares worth N974.254 million in 2,818 deals. Trading in the top three equities – FBN Holdings Plc, Transnational Corporation Of Nigeria Plc and Access Bank Plc (measured by volume) accounted for 603.939 million shares worth N2.963 billion in 3,618 deals, contributing 41.91percent and 27.23 percent to the total equity turnover volume and value respectively.
