Gains Resurfaces on Nigerian Bourse, Halting Three-Weeks Losing Streak

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July 27, 2018

By InvestAdvocate

Lagos (INVESTADVOCATE)-Gains resurfaced in the equities market, halting the three-week losing streak, as the benchmark index inched up 0.09 percent to 36,636.97 points, amidst bargain hunting and investor reactions to corporate releases, according to Cordros weekly market report.

“As a result, the Month-to-Date (-4.29 percent) and Year-to-Date (-4.20 percent) losses moderated slightly, as three of the five sessions of the week closed positive,” the Cordros report added.

“Similarly, all other indices finished higher with the exception of the NSE Premium, NSE Consumer Goods, NSE Oil/Gas, NSE Industrial Goods, NSE Pension Indices that depreciated by 0.16 percent, 0.19 percent, 3.74 percent, 4.40 percent and 0.56 percent,” according to the NSE weekly stock market report.

The NSE says at the close of the trading week on the domestic bourse, a total turnover of 1.417 billion shares worth N16.739 billion in 19,832 deals were traded by investors on the floor of the Exchange compared to a total of 1.665 billion shares valued at N14.834 billion that exchanged hands last week in 18,795 deals.

According to the report, the Financial Services Industry (measured by volume) led the activity chart with 832.842 million shares valued at N8.823 billion traded in 10,851 deals; thus contributing 58.76 percent and 52.71 percent to the total equity turnover volume and value respectively.

The Services Industry followed with 320.350 million shares worth N679.981 million in 584 deals. The third place was occupied by Conglomerates Industry with a turnover of 99.403 million shares worth N147.372 million in 1,000 deals.

the NSE reports that trading in the Top Three Equities namely – Medview Airline Plc, FBN Holdings Plc and Zenith International Bank Plc (measured by volume) accounted for 578.789 million shares worth N5.153 billion in 2,874 deals, contributing 40.83 percent and 30.78 percent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 344 units of Exchange Traded Products (ETPs) valued at N50,021.24 executed in 5 deals, compared with a total of 340 units valued at N33,660.20 that was transacted last week in 6 deals.

A total of 7,518 units of Federal Government Bond valued at N7.668 million were traded this week in 9 deals compared with a total of 17,251 units valued at N17.943 million transacted last week in 18 deals.

A summary of price changes in the review week shows that 31 equities appreciated in price, higher than 16 in the previous week.

On the flip-side, 48 equities depreciated in price, lower than 59 of the previous week, while 90 equities remained unchanged lower than 94 recorded in the preceding week.

Click here to download full PDF copy of report

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