Equity market closes the week strong, rises by 1.02%

The NSE All-Share Index and Market Capitalization appreciated by 1.02 per cent to close the week at 27,858.48 and N9.570 trillion respectively. It was a three-day trading week as the Federal Government of Nigeria declared Monday 12th and Tuesday 13th of September, 2016 as Public Holiday in commemoration of the Eid-el-Kabir Sallah Celebration

Similarly, all other Indices finished higher during the week, with the exception of the NSE Banking Index, and the NSE Insurance Index that depreciated by 0.92% and 1.04% respectively while the NSE ASeM Index closed flat.

A total of 34 equities appreciated in price during the week, higher than 24 of the previous week, 26 equities depreciated in price, lower than 38 equities of the previous week, while 120 equities remained unchanged higher than 118 equities recorded in the preceding week.

Meanwhile, a turnover of 611.527 million shares worth N5.495 billion in 9,650 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.183 billion shares valued at N10.300 billion that exchanged hands last week in 16,522 deals.

The Financial Services Industry (measured by volume) led the activity chart with 517.964 million shares valued at N2.933 billion traded in 5,931 deals; thus contributing 84.70 per cent and 53.37 per cent to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 30.470 million shares worth N1.488 billion in 1,561 deals. The third place was occupied by the Conglomerates Industry with a turnover of 27.836 million shares worth N55.012 million in 395 deals.

Trading in the top-three equities namely – FCMB Group Plc, FBN Holdings Plc and Guaranty Trust Bank Plc (measured by volume) accounted for 241.961 million shares worth N1.895 billion in 2,242 deals, contributing 39.57 per cent and 34.49 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 945 units of Exchange Traded Products (ETPs) valued at N9,541.90 executed in 18 deals, compared with a total of 943 units valued at N1.357 million transacted last week in 28 deals.

A total of 1,700 units of Federal Government Bonds valued at N1.591 million were traded in 2 deals compared to a total of 9,140 units of Federal Government Bonds valued at N9.198 million transacted last week in 6 deals.