Nigerian bourse begins the year strong, gaining 1.78%

A total turnover of 2.417 billion shares worth N18.813 billion in 20,874 deals were traded this week by investors on the floor of the Nigerian Stock Exchange (NSE)  in contrast to a total of 1.310 billion shares valued at N12.635 billion that exchanged hands last week in 9,016 deals.

The NSE All-Share Index and Market Capitalization appreciated by 1.78 per cent to close the week at 38,923.26 and N13.851 trillion respectively.

Similarly, all other indices finished higher during the week with the exception of the NSE Premium, NSE ASeM and NSE Lotus II Indices that depreciated by 0.58 per cent, 1.44 per cent and 0.82 per cent respectively.

It was a four-day trading week as the Federal Government of Nigeria declared January 1st, 2018 as a public holiday in commemoration of the New Year celebration.

The Financial Services Industry (measured by volume) led the activity chart with 1.677 billion shares valued at N8.734 billion traded in 13,033 deals; thus contributing 69.39 per cent and 46.43 per cent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 536.922 million shares worth N1.258 billion in 1,288 deals. The third place was occupied by Consumer Goods Industry with a turnover of 100.460 million shares worth N6.951 billion in 3,426 deals.

Trading in the top-three equities namely – Transnational Corporation of Nigeria Plc, Diamond Bank Plc and Skye Bank Plc (measured by volume) accounted for 1.193 billion shares worth N1.681 billion in 2,957 deals, contributing 49.37 per cent and 8.93 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 305,604 units of Exchange Traded Products (ETPs) valued at N3.498 million executed in 8 deals, compared with a total of 276 units valued at N9,865.34 that was transacted last week in 12 deals.

A total of 2,162 units of Federal Government Bonds valued at N2.016 million were traded this week in 9 deals, compared with a total of 422,672 units valued at N436.190 million transacted last week in 20 deals.

Fifty-five (55) equities appreciated in price during the week, higher than thirty-two (32) of the previous week. Twelve (12) equities depreciated in price, lower than twenty-five (25) equities of the previous week, while one hundred and five (105) equities remained unchanged lower than one hundred and fifteen (115) equities recorded in the preceding week.