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Investors stake N106b in equities in one month as bourse re-opens bullish

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Nigeria Stock Exchange, Lagos

Transactions on the equities sector of the Nigerian Stock Exchange (NSE) peaked at N106 billion last month (April), as investors exchanged a total of 8.4 billion shares in 92,807 deals.

A breakdown of the activities for the month of April showed that the financial service sector on board premium dominated in volume terms with 1.6 billion shares valued at N29.8 billion.

The sector was buoyed by transactions in the shares of Zenith Bank with 774 million shares worth N21 million in 7734 deals, while United Bank for Africa followed with 599 million units worth N6.67 billion.

Meanwhile, following price gains recorded by major highly capitalised stocks, equity transactions on the NSE reopened in an upbeat yesterday, as market capitalisation appreciated by N14 billion.

Yesterday, the All-share index increased by 38.01 points or 0.09 per cent to 41,306.02 from 41,268.01 recorded on Monday while market capitalisation rose by N14 billion from N14.948 trillion to N14.962 trillion.

Analysts predict mixed performance as investors reposition their portfolio to leverage the capital appreciation from Q1 earnings.

Precisely, the Chief Executive Officer of Investdata consulting Limited, Ambrose Omordion said: “We expect a mixed performance for the week as investors digest the numbers to reposition their portfolios in the midst of low valuations, ahead of first quarter economic data and corporate earnings that is coming to an end, especially the Q1 GDP, Purchasing Managers Index (PMI) and April inflation to reveal the true state of the economy.

“Meanwhile, dividend income players are taking position ahead of more economic data, even amidst the expected sustained volatility and repositioning. However, we would like to reiterate that investors should not panic but go for equities with intrinsic value, especially during this season when dividend payment is approaching.”

Further breakdown of yesterday’s transactions showed that Mobil topped the gainers chart with N16.70 kobo to close at N191.50 per share while Dangote cement followed with N1.90 kobo to close at N247.90 per share.

Presco added N0.70 kobo to close at N70.00 per share. Union Bank added N0.25 kobo to close at N6.50 kobo per share. United Bank for Africa garnered N0.15 kobo to close at N11.70 per share.

However, Nestle emerged the day’s highest price loser with N29.00 kobo to close at N1570 per share. Dangote flourmills followed with N1.25 kobo tgo close at N12.05 per share.

Nigerian Breweries lost N0.90 kobo to close at N129.00 per share. Cadbury depreciated by n0.65 kobo to close at N13.15 per share. Dangote sugar also dropped N0.50 kobo to close at N20.00 per share.

United Bank for Africa topped the activity chart with 52 million shares worth N610 million while Guaranty Trust Bank followed with 42 million units worth N.8 billion. Zenith Bank exchanged 30 million shares valued at N832 million.

Fidelity Bank accounted for 24 million shares valued at N60 million. First City Monument Bank traded 17 million shares worth N43 million.

On the whole, investors exchanged 276 million shares worth N6.8 billion in 5,327 deals, up from 450 million units worth N4.9 billion that was exchanged in 699 deals on Monday.


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Nigerian Stock Exchange
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