Nigerian equities fall 1.98% week on week despite surge in financial services stocks
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Nigerian equities traded lower in the week ending January 2, 2018 as benchmark index fell 1.98 percent despite surge in financial services stocks.
The NSEASI, the benchmark index, and market capitalization depreciated by 1.98 percent and 2.09 percent to close the week at 44,639.99 and N16.02 trillion respectively. Similarly, all other indices finished higher during the week with the exception of the NSE-main board, NSE consumer goods and NSE oil/gas indices that depreciated by 0.33 percent, 3.33 percent and 0.70 percent respectively. The NSE ASeM Index closed flat.
Specifically the financial services industry (measured by volume) led the activity chart in the week with 2.482 billion shares valued at N17.056 billion traded in 23,039 deals; thus contributing 75.96 percent and 60.65 percent to the total equity turnover in volume and value respectively.
A total of 3.268 billion shares worth N28.123 billion in 35,761 deals was traded during week by investors in contrast to a total of 7.157 billion shares valued at N42.545 billion that changed hands in the previous week in 39,037 deals.
The conglomerates industry followed with 375.113 million shares worth N1.047 billion in 1,968 deals. The third place was occupied by consumer goods industry with a turnover of 262.198 million shares worth N6.843 billion in 5,921 deals.
Top three traded equities were FCMB, Transnational Corporation of Nigeria Plc, and Skye Bank Plc (measured by volume) accounted for 1.181 billion shares worth N2.830 billion in 5,219 deals, contributing 36.14 percent and 10.06 per cent to the total equity turnover volume and value respectively.
Market breath closed better in the week as 49 equities appreciated as against 30 in the previous week. Forty-two (42) equities depreciated in price, lower than forty-four (44) equities of the previous week, while eighty-one (81) equities remained unchanged lower than ninety-eight (98) equities recorded in the preceding week.
Also traded during the week were a total of 32,189 units of Exchange Traded Products (ETPs) valued at N1.299 million executed in 19 deals, compared with a total of 153,755 units valued at N1.883 million that was transacted last week in 11 deals.
A total of 16,268 units of Federal Government Bonds valued at N17.053 million were traded this week in 28 deals, compared with a total of 6,715 units valued at N5.318 million transacted last week in 15 deals.
A major development in the week was the listing of Seplat’s additional volume of 25,000,000 ordinary shares of 50 kobo each. The additional shares were as a result of the company’s Long Term Incentive Plan (LTIP) for the benefit of it’s employees. With this listing, the company’s total issued and fully paid up shares now stands at 588,444,561 ordinary shares was recorded.
On bonds market, an additional volume of 45,122,840 units and 64,877,160 units were added to 14.50% percent FGN Jul 2021 and 16.2884% percent FGN Mar 2027 respectively on the 2nd of February 2018.