Yuletide rally buoys indices, investors’ fortune
The equity sector of the Nigeria Stock Exchange (NSE) witnessed an unprecedented rally on Monday, December 24, 2018, a development that spurred activities and formed market performance at the end of last week’s transactions.
Consequently, the stock market’s indices appreciated by 0.9 per cent despite two-day public holidays declared on December 25 and 26 to mark this year’s Christmas and Boxing Day celebrations.
Specifically, at the closed of transactions last week, the NSE All-Share Index and market capitalisation appreciated by 0.86 per cent to close at 31,037.72 points and N11.337 trillion respectively.Corporate Governance Index rose by 17.67 points to 1242.92 points, The NSE Main Board Index grew by 39.13 points to 1441.14 points, NSE 30 Index added 16.96 points to 1402.00 points, NSE Banking Index rose by 3.85 points to 397.76 points, NSE Consumer Goods Index increased by 12.73 points to 738.38 points, NSE Oil and Gas Index 5.94 points to 291.36 points, NSE Lottus II grew by 11.69 points to 2220.44 points and NSE Pension Index 25.47 points to 1197.21 points.
Similarly, all other indices finished higher with the exception of the NSE Premium, NSE Insurance and NSE Industrial Goods Indices that depreciated by 1.46 per cent, 0.83 percent and 0.99 per cent respectively, while the NSE ASeM index closed flat.On the activity chart, a turnover of 3.129 billion shares worth N14.348 billion was recorded in 10,394 deals, in contrast to a total of 1.472 billion shares valued at N18.678 billion exchanged in 15,610 deals during the preceding week.
The financial services industry (measured by volume) led the activity chart with 2.578 billion shares valued at N9.397 billion traded in 5,631 deals; thus contributing 82.38% and 65.49% to the total equity turnover volume and value respectively. The services industry followed with 385.985 million shares worth N974.145 million in 236 deals.
The conglomerates ranked third with a turnover of 88.808 million shares worth N141.884 million in 613 deals.Trading in the top three equities namely NEM Insurance Plc, WEMA Bank Plc, and Medview Airline Plc, (measured by volume) accounted for 2.415 billion shares worth N5.536 billion in 291 deals, contributing 77.18 percent and 38.58% to the total equity turnover volume and value respectively.
Also, 52 equities appreciated in price during the week, higher than 49 in the previous week, as 18 equities depreciated in price, lower than 23 of the previous week, while 94 equities remained unchanged lower than 97 equities recorded in the preceding week.Also traded during the week were 25,500 units of Exchange Traded Products (ETPs), valued at N1.782 million, executed in 15 deals, compared with a total of 880,145 units valued at N6.742 million that was transacted last week in five deals.
A total of 686 units of Federal Government Bonds valued at N689,162.04 was traded this week in three deals compared with a total of 14,068 units valued at N12.701 million transacted last week in 23.On the price movement chart, Diamond Bank led gainers table for the week, gaining 32.67 per cent or N0.49 kobo to close at N1.99 kobo.
FCMB Group Plc followed with a gain of 17.58 per cent or N0.29 kobo to close at N1.94 kobo, trailed by Stanbic IBTC Holdings with 15.76 per cent or N7.25 kobo to close at N53.25 kobo. Other gainers were Cement Company of Northern Nigeria 12.08 per cent, Forte Oil Plc 11.95 per cent, Conoil Plc 10.71 per cent , Sovereign Trust Insurance Plc 10 per cent, NPF Microfinance Bank 10 per cent, UACN Property Development Company Plc 9.77 per cent and Champion Breweries Plc 9.70 per cent.
However, UAC of Nigeria recorded the biggest loss, shedding 11.36 per cent or N1.25 kobo to close at N9.75 kobo, trailed by Ikeja Hotel Plc with a loss of 9.47 per cent or N0.16 kobo to N1.53 kobo.Niger Insurance Plc lost 8.33 per cent or N0.02 kobo to close at N0.22 per cent, while Guinea Insurance Plc lost eight per cent, NEM Insurance Plc, 7.91 per cent, Axamansard Insurance Plc, five per cent, Tantalizers Plc, 4.76 per cent, NCR Nigeria Plc, 4.76 per cent , FBNHoldings 4.43 per cent , Access Bank Plc 3.55 per cent.