Stocks Value Adds N70billion in Four-day Trading Session

At the end of the four-day trading session on the Nigerian Stock Exchange, NSE, movement indicates that the NSE All-Share Index and marker capitalization jumped by 205.12 points and N70 billion to close at 25,899.91 and N8.909 trillion respectively.

Similarly, all other Indices finished lower during the week, with the exception of the NSE main board index, NSE 30 Index, NSE banking index and the NSE consumer goods index that increased by 1.68 per cent, 1.47 per cent, 1.37 per cent and 4.96 per cent respectively.

Meanwhile, a turnover of 1.552 billion shares worth N10.453 billion in 14,994 deals were traded this week by investors on the floor of the exchange in contrast to a total of 11.907 billion shares valued at N18.338 billion that exchanged hands last week in 19,508 deals.

The financial services industry (measured by volume) led the activity chart with 1.187 billion shares valued at N7.298 billion traded in 10,457 deals; thus contributing 76.49 per cent and 69.82 per cent to the total equity turnover volume and value respectively.

The consumed goods industry followed with 160.334 million shares worth N1.547 billion in 2,167 deals. The third place was occupied by the conglomerates industry with a turnover of 79.549 million shares worth N122.754 million in 527 deals.

Trading in the top three equities during the week are; Zenith Bank Plc, Guaranty Trust Bank Plc and United Capital Plc (measured by volume) accounted for 536.253 million shares worth N5.852 billion in 4,735 deals, contributing 34.55 per cent and 55.98 per cent to the total equity turnover volume and value respectively.

On day by day transactions, the week open Monday on a positive note with additional N71 billion to the market capitalization of equities.

Also positive sentiment trailed the equities market as the All Share Index enjoyed 208.16 basis points increase, effectively driving the index to 25,902.95 points. Also, market activity as implied by the total value and volume traded increased by 9.3 per cent and 85.6 per cent to settle at N2.07 billion traded and 412.5 million units respectively.

Sentiments mixed across the key sectors mainly driven by price appreciation seen in Zenith Bank and Guaranty Trust Bank that led financial services sector to 1.7 per cent gain. The industrial goods sector also observed a 1.7 per cent return on the back of gains of 1.8 per cent in Dangote Cement.