Consumer goods, oil/gas sectors lift equity market 0.23% last week

Stockbrokers at the floor of the Nigerian Stock Market

By FELIX OLOYEDE

The equity market made marginally gain in the week ended November 9, 2018, buoyed by upturn recorded by consumer goods, oil and gas and Lotus II indices.

The NSE All-Share Index (ASI) and Market Capitalization appreciated by 0.23 per cent to close the week at 32,200.21 and N11.756 trillion respectively.

The all other indices finished higher except the banking, insurance, industrial goods and pension Indices, which finished lower by 0.47 per cent, 1.90 per cent, 3.81 per cent and 0.31 per cent respectively.

The Nigerian Stock Exchange (NSE) total turnover of 1.079 billion shares worth N18.196 billion in 14,372 deals were traded last week by investors, compared to a total of 1.267 billion shares valued at N20.346 billion that exchanged hands the previous week in 15,088 deals.

UACN appreciated 11.11 per cent to top the 27 equities appreciated in price during the week, Mutual Assurance Plc dropped -23.33 per cent to lead 38 equities depreciated in price.

However, 103 equities remained unchanged higher than 101 equities recorded in the preceding week.

The Financial Services Industry (measured by volume) led the activity chart with 909.849 million shares valued at N12.765 billion traded in 7,822 deals; thus contributing 84.32 per cent and 70.15 per cent to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 52.651 million shares worth N3.342 billion in 2,876 deals. The third place was Oil and Gas Industry with a turnover of 36.318 million shares worth N674.243 million in 1,324 deals.

Trading in the Top Three Equities namely Zenith Bank Plc, Access Bank Plc and FBN Holdings Plc, (measured by volume) accounted for 557.380 million shares worth N9.434 billion in 3,231 deals, contributing 51.66 per cent and 51.85 per cent to the total equity turnover volume and value respectively.

Meanwhile, the ASI has declined -15.8 per cent from the beginning of the year to date, dragged down by higher yields in developed markets and political uncertainty in the country as it heads towards the 2019 general elections.