Last week saw increased number of trades at equity segment of The Nigerian Stock Exchange (NSE) as the number of ordinary shares traded at the bourse rose to 1.538 billion, 10.33 per cent increase from 1.394 billion shares traded the previous week.
Data obtained from the NSE showed that last week’s volume trades, valued at N24.218 billion, were consummated in 19,187. The total deals executed by investors at the exchange the previous week were 23,133; these were valued at N25.037 billion.
The NSE data revealed that the transactions in the shares of companies in the financial services sector dominated activity proceedings, accounting for 78.65 per cent and 58.68 per cent of the total equity turnover volume and value. The sector saw 1.209 billion shares valued at N14.210 billion traded in 10,692 deals.
Agriculture was the second most active sector with 109.646 million shares worth N154.438 million traded in 321 deals. Consumer goods sector, with a turnover of 83.608 million shares valued at N6.247 billion and traded in 3,726 deals, came third.
Meanwhile, Unity Kapital Assurance Plc, Guaranty Trust Bank Plc, and AIICO Insurance Plc were the top three equities traded at the exchange during the week. Volume of trades in these stocks stood at 579.065 million shares, 37.66 per cent of the total market volume for the week. The transactions were sealed in 1,856 deals valued at N7.900 billion, 32.62 per cent of the equity traded in the week under review.
Also traded during the week were a total of 390 units of Exchange Traded Products (ETPs) valued at N6,511.60 executed in 5 deals compared with a total of 5,168 units valued at N65,570.28 transacted last week in 8 deals.
A total of 3,657 units of Federal Government Bonds valued at N2,866, 267.62 were traded this week in 9 deals, compared with a total of 987 units valued at N986,951.99 transacted last week in 1 deals.
The NSE All Share Index declined by 0.74 per cent to close the week at 36,646.46 as market capitalization dropped to N12.631 trillion.
The NSE Main Board, NSE Banking, and NSE Consumer Goods indices , gained 1.34 per cent, 0.31 per cent, and 2.38 per cent to give a measure of strength to the market as all other indices closed lower during the week compared to the previous week.
Moreover, 32 equities appreciated in price during the week, higher than 19 that increased in price the previous week; 40 depreciated, lower than 51 equities that shed prices the previous week. 99 equities remained unchanged within the week versus 101 equities whose price did not change the previous week’s dealings.
Meanwhile, the newly created Federal Government of Nigeria (FGN) savings bonds were admitted to trading on the floor of the exchange. 215,644 units of the savings bonds maturing in August 2019, with coupon rate of 13.535 per cent were introduced and admitted to trading on Wednesday.
Also FGN savings bonds with coupon rate of 14.535 per cent maturing in August 2020 were admitted to trading at the Exchange on Wednesday.
The FGN savings bond is a retail investment product introduced by the Nigerian Government to help enhance the savings culture of Nigerians and provide everyone, no matter the income level, an opportunity to contribute to national development and while earning decent returns. The bonds are backed by the full faith and credit of the FGN and attract quarterly payments of interest to bondholders.
INNOCENT UNAH
