Market gains N36bn in one week

The equities market closed the week on a positive note on Friday as the Market Capitalisation of the Nigerian Stock Exchange (NSE) appreciated by N36 billion in one week.

The Market Capitalisation had opened for trading on Monday at N9.023 trillion to close on Friday at N9.059 trillion while All-Share Index added 0.40 per cent or 104.68 basis points to close at  26,328.22 basis points from 26,223.54 basis points it opened this week.

In all, a turnover of 990.584 million shares worth N18.823 billion in 14,917 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.340 billion shares valued at N8.903 billion that exchanged hands last week in 15,733 deals.

The Financial Services Industry (measured by volume) led the activity chart with 664.647 million shares valued at N3.896 billion traded in 8,056 deals; thus contributing 67.10per cent and 20.70 per cent to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 133.641 million shares worth N2.602 billion in 2,653 deals. The third place was occupied by Conglomerates Industry with a turnover of 63.189 million shares worth N88.834 million in 635 deals.

Trading in the top-three equities namely – Zenith International Bank Plc, Champion Breweries Plc and Diamond Bank Plc (measured by volume) accounted for 252.189 million shares worth N1.822 billion in 1,841 deals, contributing 25.46per cent and 9.68per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 8,519 units of Exchange Traded Products (ETPs) valued at N527,483.35 executed in 10 deals, compared with a total of 44 units valued at N79,568.30 transacted last week in 12 deals.

A total of 59,299 units of Federal Government Bonds valued at N56.379 million were traded this week in six deals, compared with a total of 6,449 units valued at N6.652 million transacted last week in nine deals.

However, the Naira inched up slightly by 0.8per cent w/w against the Dollar to close at N305.25.

It however gained 2.48per cent and 3.56per cent against the Pound and the Euro to close at N382.60 and N325.89 respectively.

At the parallel market, the Naira closed flat w/w against the green back to settle at N498.

It however shed -0.5per cent against the Pound to end the week at N607 but slight up against the Euro by N2 to berth at N525.

Interbank lending rates ended the week at double digit, as system liquidity declined to N37billion.