Investors rally on banking stocks, boost market value to N13.8bn

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Stories by Peter Egwuatu

The rally by investors on banking stocks, last week contributed significantly to boost the stock market value to record N13.8 billion.

Specifically, a turnover of 1.115 billion shares worth N13.817 billion in 16,083 deals were traded by investors on the floor of the Nigerian Stock Exchange, NSE in contrast to a total of 1.124 billion shares valued at N13.839 billion that exchanged hands penultimate week in 15,625 deals.

The Financial Services Industry (measured by volume) led the activity chart with 993.823 million shares valued at N7.279 billion traded in 10,135 deals; thus contributing 89.11 per cent and 52.68% per cent to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 48.047 million shares worth N4.365 billion in 2,682 deals. The third place was occupied by the Conglomerates Industry with a turnover of 31.648 million shares worth N109.579 million in 487 deals. Trading in the top three Equities namely – Guaranty Trust Bank Plc, United Bank for Africa Plc and Diamond Bank Plc (measured by volume) accounted for 394.511 million shares worth N4.397 billion in 3,142 deals, contributing 35.37 per cent and 31.82 per cent to the total equity turnover volume and value respectively.

Also traded during the week under review were a total of 29,242 units of Exchange Traded Products (ETPs) valued at N283,495.57 executed in 42 deals, compared with a total of 16,397 units valued at N1.961 million transacted last week in 37 deals.

A total of 4,470 units of Federal Government Bonds valued at N4.313 million were traded in 8 deals compared to a total of 1,650 units of Federal Government Bonds valued at N1.690 million transacted last week in 3 deals

The NSE All-Share Index and market capitalisation appreciated by 1.11 per cent and 1.13 per cent to close the week at 27,756.67 and N9.535 trillion respectively. Similarly, all other Indices finished higher during the week under review, with the exception of the NSE Industrial Goods, index that declined by 0.24 per cent while the NSE ASeM Index closed flat

In fact, twenty-eight (28) equities appreciated in price during the week under review, higher than twenty-seven (27) equities of the penultimate week. Thirty-one (31) equities depreciated in price, higher than twenty-five (25) equities of the penultimate week, while one hundred and twenty-one (121) equities remained unchanged lower than one hundred twenty-eight (128) equities recorded in the penultimate week.

Meanwhile, a total of 30,000,000, 40,000,000 and 149,585,000 units were added to the following bonds: 12.50 per cent FGN January 2026, 12.40 per cent FGN March 2036 and 14.50 per cent FGN July 2021 respectively on the 29th of August, 2016.

A total of 3,200,000,000 units of Staco Insurance Plc which arose from a Special Placing were admitted to trading on the 1st of September, 2016. This brings the total outstanding shares of the company to 9,341,087,609 units.

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