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Market closes the week stronger, Index rises by 2.55%

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Wole Tokede

The NSE All-Share Index and Market Capitalization appreciated by 2.55 per cent and 2.36 per cent to close the week at 27,116.45 and N9.313 trillion respectively.

Similarly, all other Indices finished higher during the week, with the exception of the NSE ASeM Index, NSE Insurance Index and the NSE Oil/Gas Index that declined by 0.03 per cent, 1.73 percent and 0.76 per cent

A total of 35 equities appreciated in price during the week, lower than 54 of the previous week even as 37 equities depreciated in price, higher than 17 of the previous week, while 109 equities remained unchanged lower than 118 equities of the previous week.

A turnover of 2.446 billion shares worth N13.145 billion in 23,680 deals were traded in the week by investors in contrast to a total of 1.826 billion shares valued at N14.468 billion that exchanged hands last week in 20,058 deals.

The Financial Services Industry (measured by volume) led the activity chart with 2.012 billion shares valued at N9.493 billion traded in 14,200 deals; thus contributing 82.26 per cent and 72.22 per cent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 208.483 million shares worth N268.053 million in 1,134 deals. The third place was occupied by the Oil and Gas Industry with a turnover of 80.269 million shares worth N692.612 million in 2,826 deals.

Trading in the Top Three Equities namely – Wema Bank Plc, Zenith International Bank Plc and Access Bank Plc.(measured by volume) accounted for 871.331 million shares worth N5.297 billion in 3,956 deals, contributing 35.63 per cent and 40.30 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 307,411 units of Exchange Traded Products (ETPs) valued at N21.406 million executed in 38 deals, compared with a total of 382,448 units valued at N10.288 million transacted last week in 43 deals.

A total of 4,143 units of Federal Government Bonds valued at N4.248 million were traded in 8 deals compared to a total of 8,033 units of Federal Government valued at N8.923 million transacted last week in 6 deals.

Pursuant to Clause 15 of the General Undertaking, Appendix III of the Rule Book of The Exchange, 2015, Part II, Issuers’ Rules, the Exchange announced that eight companies were delisted from the Daily Official List of The Exchange effective 18th May, 2016.

IPWA Plc; G. Cappa Plc; West African Glass Industries Plc (WAGI); Investment & Allied Insurance Plc; ALUMACO Plc;  Jos International Breweries Plc; Adswitch Plc and Rokanna Plc.

The delisting of the listed companies was said to have been approved by the Quotations Committee of the National Council of The Nigerian Stock Exchange.

 

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