Dangote Cement, Access Bank, Zenith Bank top trades

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Image result for Dangote Cement, Access Bank, Zenith Bank top tradesDangote Cement Plc, Access Bank Plc and Zenith International Bank Plc emerged as the top three equities (measured by volume) traded on the Nigerian Stock Exchange last week.

The companies accounted for 833.966 million shares worth N95.969bn in 3,203 deals, contributing 33.12 per cent and 84.10 per cent to the total equity turnover volume and value, respectively.

A total turnover of 2.518 billion shares worth N114.117bn in 23,546 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 2.211 billion shares valued at N30.636bn that exchanged hands penultimate week in 26,287 deals.

The financial services industry (measured by volume) led the activity chart with 1.507 billion shares valued at N16.354bn traded in 12,511 deals; thus contributing 59.85 per cent and 14.33 per cent to the total equity turnover volume and value, respectively.

The industrial goods industry followed with 441.914 million shares worth N89.356m in 1,282 deals. The third place was occupied by the conglomerates industry with a turnover of 184.608 million shares worth N701.665m in 929 deals.

Exchange-traded products during the week stood at 1.166 million units of ETPs valued at N16.169m executed in 17 deals compared with a total of 1.732 million units valued at N13.711m transacted the penultimate  week in 19 deals.

A total of 5,850 units of  Federal Government bonds valued at N5.702m were traded last week in seven deals, compared with a total of 750 units valued at N695,229.29 transacted in the penultimate week in eight deals.

The NSE All-Share Index and market capitalisation appreciated by 1.52 per cent and 1.53 per cent to close the week at37,425.15  and N12.899tn, respectively.

Similarly, all other indices finished higher during last week with the exception of the NSE banking and the NSE oil/gas index that depreciated by 1.64 per cent and 3.05 per cent, respectively, while the NSE ASeM index closed flat.

Thirty-eight equities appreciated in price during last week, lower than 51 equities of the previous week. Twenty-eight equities depreciated in price, higher than 23 equities of the previous week, while 105 equities remained unchanged higher  than 97 equities recorded in the preceding week.

The market remained awash with buy sentiments as investors continued to take positions in companies that released impressive financial scorecards in the past weeks. In the coming week, “we expect market’s performance to be dictated by activities of banking sector stocks as investors anticipate the release of the half-year results and interim dividend declaration by the Tier 1 banks,” analysts at Meristem Securities said.

The naira appreciated by 0.36 per cent week-on-week in the interbank forex market to close at N305.55/dollar. However, in the parallel FX market, it traded flat closing the week at N365/dollar. On Wednesday, the Central Bank of Nigeria held a Treasury Bills Primary Market Auction where instruments worth N229.143bn were issued.

All instruments offered were oversubscribed, and were issued at stop rates of 13.4220 per cent (91-day), 17.4000 per cent (182-day) and 18.5300 per cent(364-day). B

Bearish sentiments prevailed in the Treasury bills secondary market as the average yield advanced by 0.11 per cent to close the week at 18.87 per cent.

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