Investors in equities market gain N403bn in five days

Investors in the equities market of the Nigerian Stock Exchange (NSE) at the close of trading last month gained N403bn in five trading days as high-mid capitalised shares recorded bargain-hunting.

Statistics obtained by our correspondent showed that market capitalisation increased by 3.25 per cent to N13.524tn from N13.121tn it opened for trading.

Specifically, NSE All-Share Index also gained 874.88 basis points, representing a growth of 3.07 per cent to 27,800.17 basis points from 26,925.29 basis points it opened for trading.

Capital market analysts said bargain-hunting in banking, consumer goods as well as oil and gas, shares were responsible for the equities market increased last month.

The Banking Index was up by 9.19 per cent, Consumer Goods Index increased by 3.97 per cent, Oil/Gas Index rose by 1.64 per cent and Industrial Goods Index surged by 1.21 per cent. However, the NSE Insurance Index moderated by 1.38 per cent.

The equities market recorded a total turnover of 2.337bn shares worth N19.712bn in 18,379 deals were traded last month by investors on the floor of NSE.

According to NSE’s weekly report, “The Financial Services industry (measured by volume) led the activity chart with 1.815bn shares valued at N10.441bn traded in 10,701 deals; thus contributing 77.70 per cent and 52.97 per cent to the total equity turnover volume and value respectively.

“The conglomerates industry followed with 197.802m shares worth N286.209m in 1,066 deals. The third place was the industrial goods industry with a turnover of 100.366m shares worth N2.176bn in 788 deals.

“Trading in the top three equities namely, Sovereign Trust Insurance, Transnational Corporation of Nigeria and Zenith Bank (measured by volume) accounted for 1.244bn shares worth N3.348bn in 2,907 deals, contributing 53.25 per cent and 16.98 per cent to the total equity turnover volume and value respectively.”

Also, traded were a total of 3,943 units of Exchange Traded Products valued at N1.684m, executed in 16 deals, compared with a total of 1,292 units valued at N15,283.55 transacted last month in seven deals.

A total of 1,673 units of Federal Government bonds valued at N1.674m was traded in 31 deals compared with 4,009 units valued at N4.111m transacted previously in 16 deals.

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