Equities rise by N32bn as bond trading falls by 27%

on   /   in Finance 12:04 am   /   Comments

By BABAJIDE KOMOLAFE

Values of equities listed on the Nigeria Stock Exchange (NSE) revived last week with N32 billion appreciation driven by price gains by blue chip companies led by Total PLC and Guinness PLC.

But the value bonds traded fell by 27.8 per cent in sharp contrast to the 34 per cent increase recorded the previous week. From N3.096 million the previous week, the value of bonds traded fell to N2.422 million. This was due to decline in the quantity of bonds traded  by 20.34 per cent to 2,020 from 2,536. The market recorded 20 bond deals as against 26 in the previous week.

Results of equities traded last week show that the quantity of shares traded rose by 32 per cent while the value of shares traded rose by 33.5 per cent.  According to the NSE, “2.550 billion Shares worth N21.694 billion were traded in 29,335 deals  this week in contrast to a total of 1.928 billion shares valued at N20.990 billion that exchanged hands last week in 28,832 deals.

“Forty-one (41) equities gained while thirty-seven (37) equities recorded price declines and one hundred and nineteen (119) equities remained constant. When compared with the preceding week, thirty-six (36) equities gained while forty-four (44) equities recorded price declines and one hundred and seventeen (117) equities remained constant.”

Total PLC led the gainers chart with N12.89 price gain, while Guinness PLC came second with N10.5 price gain. Others in the top five gainers were Nestle PLC (N7), Nigeria Breweries (N4.3) and Lafarge Wapco (N2.88). Presco  PLC led the losers chart with N1.79 loss. It was followed by Access Bank, which lost N1.3, GlaxoSmithkline (N1.1), OandO (N1.09) and Mobil (N1).

The increased activities and price gains by blue chip companies lifted market capitalisation by 0.3 per cent or N32 billion to N10.544 trillion. The NSE All-Shjare Index  also rose by 0.31 per cent to  32,950. “Also, the Bloomberg NSE 30 Index appreciated by 0.36% to close at 1,578.47.

Four of the NSE sectoral indices appreciated: Bloomberg NSE Consumer Goods, Bloomberg NSE Insurance, Bloomberg NSE Oil/Gas and NSE-Lotus II rose by 2.01%, 1.33%, 1.87%, 0.77% respectively, while the Bloomberg NSE Banking declined by 0.80% to close at 411.36

The Financial Services sector was the most active during the week contributing 81.20% to the turnover volume of 2.071 billion shares valued at N14.281 billion exchanged hands by investors in 16,956 deals. With transactions exchanged in 11,659 deals, the Banking sub-sector was the most active during the week (measured by turnover volume) of 1.618 billion shares worth N12.279 billion.

Volume in the financial sector was boosted by activities in the shares of Unity Bank Plc, U B A Plc, Ecobank Transnational Incorporated Plc which accounted for 965.890 million shares, representing 59.71%, 46.65% and 37.88% of the turnover recorded by the subsector, sector and total equity for the week, respectively.  During the week, 577 units of NewGold Exchange Traded Funds (ETFs) valued at N1.405 million were traded in 7 deals compared with a total of 846 units valued at N2.035 million transacted last week in 7 deals.”

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