Nigerian stock futures tallied slight gains last Friday, with price gains by most companies lifting the Nigerian Stock Exchange (NSE) All-Share Index (ASI). The ASI rose by 0.31 percent to close at 32.950.08 from 32,849.11 at the beginning of last week.
Gains recorded by shares of Total Nigeria plc, Guinness Nigeria plc, Nestle Nigeria plc helped to buoy the market positive movement while contraction in the shares of Presco plc, Access Bank plc, and GlaxoSmithKline Consumer Nigeria plc impacted the market negatively.
The equities market capitalisation gained N32.309 billion to close at N10.544 trillion. The Bloomberg NSE 30 Index which measures performance of blue-chips appreciated by 0.36 percent to close at 1,578.47.
Four of the NSE sectoral indices appreciated: Bloomberg NSE Consumer Goods, Bloomberg NSE Insurance, Bloomberg NSE Oil/Gas and NSE-Lotus II rose by 2.01percent to 973.71, 1.33percent to 154.89, 1.87percent to 198.59, and 0.77 percent to 2,106.76 respectively, while the Bloomberg NSE Banking declined by 0.80percent to close at 411.36
The market recorded a turnover of 2.550 billion shares worth N21.694 billion in 29,335 deals in contrast to a total of 1.928 billion shares valued at N20.990 billion that exchanged hands the preceding week in 28,832 deals. The Financial Services sector was the most active last week contributing 81.20 percent to the turnover volume of 2.071 billion shares valued at N14.281 billion which exchanged hands by investors in 16,956 deals. With transactions exchanged in 11,659 deals, the Banking sub-sector was the most active last week (measured by turnover volume) recording 1.618 billion shares worth N12.279 billion.
Volume in the financial sector was boosted by activities in the shares of Unity Bank plc, UBA plc, Ecobank Transnational Incorporated plc which accounted for 965.890 million shares, representing 59.71percent, 46.65 percent and 37.88 percent of the turnover recorded by the subsector, sector and total equity for the week, respectively.
During the week in review, 577 units of NewGold Exchange Traded Funds (ETFs) valued at N1.405 million were traded in 7 deals compared with a total of 846 units valued at N2.035 million transacted the preceding trading week in 7 deals. Also, 2,020 units of FGN bonds valued at N2.422 million were traded last week in 20 deals in contrast to 2,536 units valued at N3.096 million transacted the preceding week in 26 deals.
IHEANYI NWACHUKWU
