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Market capitalisation appreciates by N288bn


… As analysts caution investors on profit taking
Total market capitalisation of equities listed on the Nigerian Stock Exchange, NSE appreciated by N288.1 billion last week occasioned by sustained investors’ confidence.

Specifically, the market capitalisation, which opened the week at N11.23 trillion, rose by 2.57 percent to close at N11.513 trillion.

The market value year-to-date (YTD) return currently stands at 28.25 per cent appreciation.

Another market indicator, the All-Share Index also rose by 2.57 percent or 900.95 points to close at 36,010.28 points from 35,109.33 points.

Analysts at Proshare Investment Company said the market outlook came in line with the company’s previous positions as investors’ confidence is gradually gaining more weights towards investment in equities.

“Though, we observed slight increase in bear’s activities, nonetheless, we expect the market to maintain the positive posture. However, investors should tread with caution while keeping focus on equities with strong fundamentals as likely profit-taking is not in any doubt in near term,” the investment company said.

Total Nigeria Plc led the gainers’ table in the week under review, appreciating by N17.00 to close at N160 per share from N143.00 per share. This was followed by Nestle Nigeria Plc that recorded N15.00 price appreciation to close at N925 per share. While Nigeria Breweries Plc gained N13.50 to close at N161.50 per share.

However, Dangote Cement Plc recorded the highest share price loss, depreciating by N5.00 to close at N180.00 per share from N185.00 per share. This was followed by Julius Berger Nigeria Plc with a share price loss of N1.50 to close at N51.50 per share, while Stanbic IBTC Holdings Plc dropped by N0.48 to close at N14.42 per share.

Meanwhile, equities transaction rose by 11.9 percent in the week under review, recording 1.69 billion shares valued at N21.39 billion in 28,394 deals in contrast to a turnover of 1.51 billion shares valued at N15.87 billion in 20,968 deals transacted the penultimate week.

At the close of trading activities for the week, the Financial Services sector came top and accounted for 1.31 billion shares valued at N12.17 billion exchanged by investors in 15,796 deals. Consumer Goods sector followed in the activity chart with 98.12 million shares valued at N4.85 billion in 5,151 deals. Thirdly, the Oil and Gas sector joined the top activity chart with a volume of 67.246 million shares valued at N365.645 million in 1,810 deals. The top three equity sectors represented by 87.67 percent and 81.30 percent of the total equity volume and value traded respectively.

The Banking sub-sector of the Financial Services sector, boosted by activity in the shares of First City Monument Bank Plc, Access Bank Plc and U B A Plc was the most active during the week with a sub-sector turnover of 917.182 million shares valued at N8.526 billion traded in 11,236 deals.


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