MTN helps Nigerian bourse maintain bullish run as Index up 6.96% for the week

Market transactions on The Nigerian Stock Exchange (NSE) was bullish last week as The NSE All-Share Index and Market Capitalization appreciated by 6.96 per cent to close the week at 30,881.29 and N13.602 trillion respectively.

All other indices finished lower with the exception of the – NSE 30, NSE Premium, NSE Insurance, NSE MERI Growth, NSE Lotus II and NSE Industrial Goods Indices that appreciated by – 0.81 per cent, 14.09 per cent, 1.18 per cent, 1.42 per cent, 3.45 per cent and 6.12 per cent respectively.

Thirty (30) equities appreciated in price during the week, higher than sixteen (16) in the previous week. Forty (40) equities depreciated in price, lower than forty-two (42) equities of the previous week, while ninety-eight (98) equities remained unchanged, lower than one hundred and nine (109) equities recorded in the preceding week.

A total turnover of 1.698 billion shares worth N57.895 billion in 24,328 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 1.172 billion shares valued at N17.887 billion that exchanged hands last week in 18,380 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.121 billion shares valued at N8.708 billion traded in 13,380 deals; thus contributing 66.01 per cent and 15.04 per cent to the total equity turnover volume and value respectively.

The ICT Industry followed with 324.332 million shares worth N40.717 billion in 3,330 deals. The third place was Consumer Goods Industry with a turnover of 75.831 million shares worth N2.948 billion in 2,957 deals.

Trading in the top-three equities namely, MTN Nigeria Communications Plc, Sovereign Trust Insurance Plc (measured by volume) accounted for 726.103 million shares worth N41.622 billion in 4,972 deals, contributing 42.75% and 71.89% to the total equity turnover volume and value respectively.

A total of 7,832 units of Exchange Traded Products (ETPs) valued at N48,890.00 executed in 6 deals compared with a total of 18,181 units valued at N215,365.64 transacted last week in 4 deals.

A total of 1,389 units of Federal Government Bonds valued at N1.440 million were traded this week in 14 deals compared with a total of 10,366 units valued at N9.783 million transacted last week in 9 deals.