Exchange Records N9.98bn Turnover

The Nigerian Stock Exchange (NSE) recorded a turnover of 1.002 billion shares worth N9.98 billion in 19,493 deals last week.

The figures contrasted with a total of 2.65 billion shares valued at N21.5 billion exchanged in 31,639 deals in the preceding week.

Reports said that the stock market opened for only three days as Tuesday and Wednesday were declared public holidays to mark the Eid-el-Kabir festival.

The Banking sub-sector was the most active in the week under review (measured by turnover volume), with 735.23 million shares worth N4.72 billion traded by investors in 11,629 deals.

Volume in the sub-sector was largely driven by trading in the shares of FinBank, First Bank, Bank PHB and Access Bank.

Trading in the shares of the four banks accounted for 327.17 million shares, representing 44.5 per cent and 32.6 per cent of the sub-sector’s turnover and total volume traded during the week respectively.

The Insurance sub-sector, boosted by activity in the shares of AIICO Insurance and NEM Insurance Company, followed on the week’s performance chart with a turnover of 66.02 million shares valued at N57.05 million traded in 924 deals.

In the previous week, the Banking sub-sector led on the activity chart, followed by the Insurance sub-sector.

The NSE All-Share Index fell by 407.88 points or 1.62 per cent to close on Friday at 24,959.95.

Meanwhile, the market capitalisation of the 200 First-Tier equities

increased to N7.97 trillion.

However, the NSE-30 Index depreciated by 3.21 points or 0.3 per cent to close at 1,076.75.

Last week, ASI and NSE-30 Indices had appreciated by 2.33 per cent and 3.3 per cent, respectively.

Two of the four sectoral indices appreciated compared with all the four which appreciated during the preceding week.

The NSE Banking Index appreciated marginally by 0.03 points or 0.01 per cent to close at 389.97 and the Oil/Gas Index appreciated by 2.58 points or 0.8 per cent  to close at 339.48.

However, the NSE Food/Beverage Index depreciated by 0.32 points or 0.04 per cent  to close at 803.56 and the NSE Insurance Index depreciated by 2.01 points or 1.21 per cent to close at 163.79

According to reports,  35 stocks appreciated in price during the week, lower than the 60 in the preceding week.

Guinness Nigeria Plc led on the gainers’ table, appreciating by N8.79 to close at N188.80 per share while 7-Up Bottling Company Plc followed with a gain of N1.81 to close at N38.47 per share.

Fifty stocks depreciated in price during the week, higher than the 27 in the preceding week.

Nestle Nigeria Plc led on the price losers’ table, dropping by N6.00 to close at N395.00 per share while Dangote Cement shed N5.20 to close at N121.15 per share.

Three equity prices were adjusted for dividend as recommended by the Boards of Directors.

Ikeja Hotels was adjusted for dividend of 10k per share, while  Chemical and Allied Products Plc was adjusted for interim dividend of N1 per share.

Dangote Cement Plc was adjusted for interim dividend of N2 per share.