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Stock market maintains bullish run

By providence Obuh
The bullish run on the Nigerian Stock Exchange (NSE) persisted last week as the value of listed equities’ appreciated by N1.86 billion.

Specifically equities value represented by the market capitalisation surged 30.43 per cent to close at N7.982 trillion from N6.120 trillion at which it opened the week.

Another key performance indices for measuring the market performance, the All share index garnered 0.25 per cent or 63.46 bases points to close at N25,042.16 points from 24,978.70 points at which it opened.

The gains on share price was occasioned by highly capitalised stocks of major blue chip companies led by Nestle Nigeria Plc with a gain of N12.05 to close at N400.00 per share, Flour Mills Nigeria Plc followed with a gain of N3.19 to close at N71.90 per share and Ashaka Cement Plc rose by  N2.23 to close at N24.59 per share.

Other share price gainers’  include: Ecobank Transnational Incorporation N1.27, Conoil Plc N1.19, PZ Cussons Nigeria Plc N1.00, UAC of Nigeria Plc N0.84, First City Monument Bank Plc N0.76, Longman Nigeria Plc N0.76, Cadbury Nigeria Plc N0.56, among others.

Total Nigeria Plc led 35 other stocks on the losers’ table, dropping by N11.01 to close at N214.62 per share, Lafarge Cement WAPCO Nigeria Plc followed with a loss of N2.50 to close at N40.00 per share and Nigerian Breweries Plc dipped by N1.91

Other share price losers include: Oando Plc N1.80, Julius Berger Nigeria Plc N1.00, May & Baker Nigeria Plc N0.92, Nigeria Aviation Handling Company Plc N0.78, Access Bank Plc N0.72,  United Bank for Africa Plc N0.65, UACN Property Development Comapny Plc N0.50, among others.

A turnover of 1.8 billion shares worth N43.43 billion in 31,904 deals was recorded this week, in contrast to a total of 1.55 billion shares valued at N18.1 billion exchanged last week in 29,062 deals.

The Banking subsector was the most active on the sectorial analysis accounting for 57.8 per cent, meanwhile a turnover of 1.04 billion shares valued at N8.35 billion was recorded in 18,599 deals.   Activities in the Banking sub-sector was largely driven by the shares of Zenith Bank Plc, First Bank of Nigeria Plc, Diamond Bank Plc, Guaranty Trust Bank Plc and UBA Plc.

Trading in the shares of the five Banks accounted for 524.24 million shares, representing 50.6 per cent and 29.3 per cent of the sub-sector’s turnover and total volume traded during the week.

The Insurance sub-sector, boosted by activity in the shares of Oasis Insurance Plc and AIICO Insurance Plc, followed on the week’s activity chart with a turnover of 248.94 million shares valued at N159 million in 1,129 deals.


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