Stock market activities on the rebound as index grows by 3.44%

By The Citizen

The Nigerian Stock Exchange (NSE) All-Share Index appreciated by 3.44 per cent to close on Friday at 38,424.34 while the market capitalization of the listed equities on the main board also appreciated 3.44 per cent to close at N12.169 trillion.

The NSE 30 Index appreciated by 3.64 per cent to close at 1,805.63.

Likewise, the NSE Consumer Goods, NSE Banking, NSE Insurance, NSE Oil/Gas, NSE-Lotus II and NSE Industrial Goods appreciated by 3.89, 4.60, 0.42, 0.75, 3.54 and 5.09 per cent respectively, while NSE-ASeM remained unchanged. About 50 equities appreciated in prices during the week higher than 28 equities of the preceding week, while 33 equities depreciated in prices lower than 60 equities of the preceding week, with 111 equities remaining constant, higher than 106 in the preceding week.

Transactions in the Over-The-Counter (OTC) market for FGN bonds recorded a turnover of 146.632 million units valued at N148.095 billion, exchanged in 1,043 deals.

This amount, was however, lower than 215.032 million units worth N230.068 billion, exchanged in 1,519 deals during the preceding week ended July 26.

Similarly, a turnover of 1.364 billion shares worth of N16.168 billion in 28,322 deals were traded during the week by investors on the floor of the Nigerian Stock Exchange in contrast to 2.5 billion shares valued at N17.035 billion that changed hands during the preceding week in 28,638 deals.

Specifically, at the closed of transactions last week, the financial services sector led the activity chart in volume terms with a turnover of 990.484 million shares valued at N7.916 billion traded in 15,243 deals, contributing 72.61 per cent, 48.96 per cent and 53.82 per cent to the total equity turnover volume, value and number of deals respectively.

The banking sub-sector, boosted by activities in the shares of Sterling Bank Plc and UBA Plc, was the most active sub-sector on the week's activity chart with a turnover of 638.021 million shares valued at N6.093 billion, exchanged hands by investors in 10,059 deals.

Also, the banking sub-sector accounted for 46.77 per cent and 37.69 per cent of the total sub-sector traded volume and value respectively.

Traded during the week were 80 units of NewGold Exchange Traded Funds (ETFs) valued at N165, 000 executed in two deals compared with a total of 80 units valued at N165, 400 transacted last week in two deals.