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Value investors last week raised expectations as the market capitalisation of listed stocks rose to N14.101 trillion up from N14.008 trillion in the previous week, translating to a gain of N93.75 billion by equities. The market capitalisation thus closed week to date higher at 0.67 percent and year to date at 3.62 percent.
Similarly, the All Share Index (ASI) of the Nigerian Stock Exchange (NSE) rose to 38,928.02 points up from 38,669.23 points in the previous week. This translated to a gain of 258.79 points or 0.67 percent week to date gains or 1.79 percent year to date gains.
Compared with the performance of the market same period last year, the current market performance is nothing but a miniature. As at this time last year, the ASI had appreciated by 25.81 percent while the market capitalisation of listed equities had posted 26.44 percent returns.
Further analysis of the equity market shows that 54 equities closed in the positive territory last week; three stocks remained neutral while 49 stocks are decliners. The shares of the Cement Company of Northern Nigeria (CCNN) remain the most appreciated in the entire market. It closed at N27.50 per share last week Thursday translating to 189.5 year appreciation year to date. Learn Africa closed at N1.58 per share representing 79.5 percent YTD returns. Caverton closed higher at 78.3 YTD and that puts its current market price at N2.30 per share. Beta Glass rose YTD by 70.2 percent which means it current share price is N87.35. Unity Bank was higher at 66 percent as its share price closed at N0.88.
On the flip side, insurance stocks led by African Insurance led the losers’ chart. Losing by 60 percent year to date, African Insurance’s share price closed last week Thursday at N0.20. Equity Assurance’s share price has depreciated by 52 percent year to date, thus its current market price is N0.24 per share. Niger Insurance has lost by 50 percent year to date, leading to its current market price at N0.25 per share. Regency Insurance has lost by 48 percent year to date, thus its current market price is N0.26 per share. And Sovereign Trust Insurance which has lost by 44 percent and that leaves its current market price at N0.28 per share.
Meanwhile, trading on the floor of the NSE last week saw 1.738 billion shares exchange hands worth N18.462 billion in 14,790 deals compared with 1.749 billion shares valued at N31.183 billion exchanged in 24,604 deals in the previous week.
Expectedly, the financial services dominated transactions on the floor accounting for 1.170 billion shares valued at N9.695 billion traded in 7,809 deals, which represented 67.35 percent and 52.51 percent of the total equity market volume and value. It was followed by the services industry which recorded 293.49 million shares valued at N733.40 million traded in 531 deals. The consumer goods sub sector witnessed the exchange of 154.09 million shares worth N4.997 billion traded in 3,002 deals.
A total of 62,392 units of Exchange Traded Products (ETPs) were traded worth N1.004 billion executed in 13 deals in contrast to 202,916 shares worth N1.168 million executed in 19 deals in the previous week. Most of the ETPs traded in terms of volume and value were VETBANK and SIAMLETF40.
Furthermore, investors traded 9,850 units of federal government bonds estimated at N9.999 million in 10 deals as against 10,561 units worth N10.381 million executed in 20 deals in the previous week. Last week also, the NSE admitted 6 new Federal Government Savings Bonds.
