By Nkiruka Nnorom
The equities market this week recovered the losses recorded in the previous week as investors continue to demonstrate positive sentiment towards some penny stock.
Most of the stocks include those that recently started witnessing activity and improved liquiudity following the impact of thye Nigerian Stock Exchange, NSE, new par value rule that now allows stocks to trade for as low as one kobo per share.
Consequently, the twin market indicators – the All Share Index, ASI, and the market capitalisation of all listed equities rose marginally by 0.72 percent and 0.82 percent to close the week at 42,876.23 points and N15.403 trillion respectively.
At the end of the week, 38 gainers emerged during the week led by Japaul Oil and Maritime Services Plc, which rose by 50 percent to close the week at N0.63 from N0.42. Unity Bank Plc placed second on the list, rising by 18.79 percent to close at N1.77 from N1.49. NEM Insurance Plc appreciated by 18.42 percent to close at N2.25 from N1.90 per share.
Cement Company of Northern Nigeria, CCNN, ranked fourth, rising by 17.80 percent to close at N19.85 from N16.85, while Consolidated Hallmark insurance Plc advanced by 16 percent to close at N0.29 from N0.25 per share.
On the other hand, 23 losers emerged in the week led by Sovereign Trust Insurance with 20.83 percent decrease to close at N0.38 from N0.48 percent, followed by Unic Diversified Holdings Plc with 18.52 percent decline to close at N0.22 from N0.27 per share.
Muliverse Mining and Exploration Plc closed as the third in the list, dropping by 17.65 percent to close at N0.28 from N0.34. FTN Cocoa Processors Plc fell by 15.91 percent to close at 0.37 from N0.44, while African Alliance Insurance Company Plc deprectiated by 14.29 percent to close at n0.36 from N0.42 per share.
A total turnover of 2.170 billion shares worth N39.087 billion in 24,657 deals were traded by investors on the floor of the Exchange in contrast to a total of 2.018 billion shares valued at N21.740 billion that exchanged hands last week in 25,496 deals.
The financial services sector, measured by volume, led the activity chart with 1.534 billion shares valued at N17.670 billion traded in 15,208 deals; thus contributing 70.69 percent and 45.21 percent to the total equity turnover volume and value respectively.
The industrial goods sector followed with 200.405 million shares worth N6.436 billion in 1,097 deals. The third place was occupied by conglomerates sector with a turnover of 188.097 million shares worth N489.453 million in 998 deals.