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Blue chips’ gains buoy investment value by N30bn

A significant improvement was recorded in transactions on the Nigerian Stock Exchange, NSE, last week as investment value, represented by the market capitalization, appreciated by N30.288 billion.

In particular, the capitalization rose by 0.47 per cent to close the week at N6.489 trillion from N6.459 trillion at which it opened.

The All-share index, another key performance indicator, closed at 20,592.01 points, rising by 96.09 basis points from 20,495.92 points at which it opened the week.

The improvement in the indices was as a result of gains by major blue chip companies, led by Dangote Cement Plc, with a gain of N5.25 to close at N110.25 per share, from N105 per share at which it opened.

Oando Plc followed with a gain of N4.32 to close at N24.43 per share while Zenith Bank Plc garnered N0.70 to close at N14.05 per share.

Other share price gainers include: Access Bank Plc N0.61, United Bank for Africa Plc N0.60, Unilever Nigeria Plc N0.58, Julius Berger Nigeria Plc N0.55, NCR (Nigeria) Plc N0.48, Nigerian Aviation Handling Company Plc N0.45 and Cutix Plc N0.26 among others.

On the contrary, Nestle Nigeria Plc led 32 other companies on the share price losers’ category, dropping by N20 to close at N400 per share from N420 per share at which it opened; Guinness Nigeria Plc followed with a loss of N11.90 to close at N209.10 per share and Nigerian Breweries Plc dipped by N5.04 to close at N92.95 per share.

Other Seven Bottling Company Plc N2.10, Glaxo SmithKline Consumer Plc N2.01, PZ Cussons Nigeria Plc N1.90, Conoil Plc N1.26, Union Bank Nigeria Plc N1.05, Lafarge WAPCO Plc N0.95, Flour Mills Nigeria Plc N0.93 among others.

Equity trading appreciated by 8.76 per cent in the week under review, as a turnover of 2.223 billion shares valued at N13.356 billion was recorded in 21,433 deals in contrast to penultimate week’s turnover of 2.044 billion shares valued at N12.332 billion in 20,449 deals.

The Financial Services sector accounted for 1.915 billion shares valued at N8.953 billion traded in 13,430 deals, while the Consumer Goods sector followed with 102.954 million shares valued at N2.615 billion in 3,908 deals.

Banks’ stocks were the most sought after in the sectorial analysis, as investors exchanged 1.621 billion banks’ shares valued at N8.8 billion exchanged by investors in 12,489 deals. Trading in the Banking sub-sector was largely driven by activity in the shares of United Bank for Africa Plc, First City Monument Bank Plc, Ecobank Transnational Incorporated and Fidelity Bank Plc.

Trading in the shares of the four banks accounted for 1.144 billion shares, representing 70.5 per cent 59.7 per cent and 51.44 per centof the turnover recorded by the subsector, sector and total turnover for the week, respectively.

The Insurance sub-sector of the Financial Services sector, boosted by activity in the shares of NEM Insurance Company Plc and Intercontinental WAPIC Insurance Plc, followed on the week’s activity chart with a turnover of 251.22 million shares valued at N142.8 million in 934 deals.


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