GlaxoSmithKline lead gainers as Exchange records N16b turnover

GlaxoSmithKline traded higher at the end of last week’s transactions on the equity sector of the Nigerian Stock Exchange (NSE), leading nine gainers with N8.50 kobo to close at N34.00 per share.

Other gainers of last week’s transactions were Custodian and Allied Insurance, Unity Kapital Assurance and Eterna Oil, which added 86 kobo, four kobo and 52 kobo to close at N4.96, 26 kobo, and N6.65 per share respectively.

However, Japaul Oil led the losers’ chart with 10 kobo to close at 59 kobo per share, while Diamond Bank followed with 29 kobo to close at N1.86 per share and Champion Breweries lost 31 kobo to close at N2.40 per share.

Consequently, a total turnover of 1.541 billion shares worth N16.647 billion was recorded in 18,805 deals by investors on the floor of the Exchange, down from 2.328 billion units valued at N28.927 billion that were exchanged in 25,530 deals during the previous week.The drop in turnover, may however, be attributed to the public holiday declared by the Federal Government to commemorate the Good Friday, which shortened trading sessions to four during the week.

Further review of last week’s transactions showed that the financial services industry (measured by volume) led the activity chart with 1.024 billion shares valued at N10.946 billion traded in 11,019 deals; thus contributing 66.44 per cent to the total equity turnover volume.

The consumer goods industry followed with 213.704 million shares worth N3.053 billion in 2,693 deals. The third place was occupied by oil and gas industry with a turnover of 158.643 million shares worth N908.260 million in 1,897deals.

Trading in the top three equities- Zenith International Bank Plc, Champion Breweries Plc and Skye Bank Plc (measured by volume) accounted for 485.832 million shares worth N5.851 billion in 2,221 deals, contributing 31.53 per cent to the total equity turnover volume.Also traded during the week were 15,293 units of Exchange Traded Products (ETPs) valued at N254,840, executed in 16 deals, compared with 4,165 units valued at N78,276.06 that was transacted last week in 15 deals.

A total of 21,583 units of Federal Government Bonds and one State bond valued at N22.868 million were traded this week in 16 deals, compared with 5,152 units valued at N4.562 million transacted last week in 24 deals.The NSE All-Share Index and market capitalisation appreciated by 0.08 per cent to close the week at 41,504.51 and N14.993 trillion respectively.

Similarly, all other indices finished lower during the week with the exception of the NSE Premium, NSE Consumer Goods, NSE Lotus II and NSE Pension Indices that appreciated by 1.15 per cent, 1.73 per cent 1.58 per cent and 0.34 per cent respectively.During the week, about 40 equities appreciated in price, higher than 33 of the previous week, while 40 equities depreciated in price, lower than 49 equities of the previous week, and 91 equities remained unchanged higher than 89 equities recorded in the preceding week.

An additional volume of 836,983,125 ordinary shares of Morison Industries Plc was listed on the daily official list of the exchange on Monday March 26, 2018. The additional shares listed arose from Morison’s rights issue of 836,983,125 ordinary shares of 50 kobo each at N0.60 per share on the basis of 11 new ordinary shares for every two ordinary shares held as at Friday, August 25, 2017.

With this listing of 836,983,125 ordinary shares of 50 kobo each, the total issued and fully paid up shares of Morison has now increased from 152,178,750 to 989,161,875 ordinary shares of 50 kobo each.