Monday, 15 May 2017

NSE’S ALL SHARE INDEX RISES BY 7.46 PER CENT AS BULLISH SENTIMENTS RETURN

Bullish sentiments returned to the Nigerian Stock Exchange as the All Share Index recorded one of its highest weekly gains in 2017 during the trading week ended on May 12th, according to the NSE’s weekly market report.

The index rose 7.46 per cent last week to close at 28,192.46 points, compared to 26,235.63 points posted in the previous week. On a year-to-date basis, the index has gained 4.90 per cent. Market capitalization also rose 7.46 per cent to close at N9.746 trillion as against N9.069 trillion recorded a week earlier.

Fifty-seven equities appreciated in price during the week, higher than the 43 equities that posted price increases in the previous week. The top five gainers last week were: May & Baker, which rose 31.96 per cent to close at N1.28; Ecobank Transnational Incorporated rose 22.50 per cent to N9.80; Fidson Healthcare appreciated by 21.52 per cent to N1.92; PZ Cussons Nigeria rose 20.40 per cent to close at N18.06; and Oando, which rose 20.22 per cent to N8.62.

Thirteen equities depreciated in price, lower than the 16 equities of the previous week, while 103 equities remained unchanged lower than 114 equities recorded in the preceding week. The top five losers were: Jaiz Bank, which fell 9.09 per cent to close at N1; Seplat Petroleum, which depreciated by 5.88 per cent to N400; Newrest ASL Nigeria fell 5.63 per cent to N4.69; Neimeth Pharmaceuticals declined by 5.36 per cent to 53 kobo; and B.O.C. Gases closed at N3.35, having depreciated by 4.83 per cent.

A total turnover of 3.255 billion shares worth N28.738 billion traded in 25,370 deals last week by investors, in contrast to a total of 1.154 billion shares valued at N10.439 billion that exchanged hands in 16,676 deals in the preceding week.

The Financial Services Industry led the activity chart with 2.716 billion shares valued at N17.230 billion, trading in 15,103 deals. The sector contributed 83.42 per cent and 59.96 per cent to the total equity turnover volume and value, respectively. 

The Consumer Goods Industry followed with 185.750 million shares worth N6.596 billion, trading in 3,817 deals. In third place was the conglomerates Industry with a turnover of 156.010 million shares worth N385.427 million traded in 1,340 deals. 

The top three most traded equities – FBN Holdings, FCMB Group, and Zenith Bank – accounted for 1.419 billion shares worth N8.185 billion traded in 5,117 deals. The equities contributed 43.59 per cent and 28.48 per cent to the total equity turnover volume and value, respectively. (Financial Nigeria)