Stock Market Index Scoops 0.99% on Healthy Bear Run

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Trading activities on the Nigerian Stock Exchange, NSE ended in the week in the green zone as the All-Share Index (ASI) leaped by 0.99 per cent to close Friday, February 19at 23,523.16, as against 0.86 per cent it closed at 23,292.80 last week.

Similarly, Market Capitalization opened at N7.41trillion appreciating 0.99per cent to close at N7.49 trillion, as against N7,417 trillion recorded last week.

Three of the four sectoral indices appreciated – The Bloomberg NSE 30 index rose by 1.38 per cent to close at 1,098.24, Bloomberg NSE Consumer Goods Index rose by 2.65per cent to close at 1,979.86 and NSE Banking Index rose by 1.68per cent to close at 354.51.

However, NSE Insurance Index depreciated by -3.05per cent to close at 124.20 and the Bloomberg NSE Oil/Gas Index also closed at 173.16 depreciating by -2.32per cent.

The Exchange during the week launched a new index; NSE-Lotus II to track the performance of Sharia compliant equities on the floor of the Nigerian Stock Exchange.

Also turnover of 1.471 billion shares worth N12.350 billion in 19,228 deals were recorded this week, in contrast to a total of 1.639 billion shares valued at N11.869 billion exchanged hands last week in 20,989 deals.

There were no transactions in the Federal Government Development Stocks, State Government Bonds and Industrial Loans/Preference Stocks sectors.

Also traded during the week were 3,050 units of NewGold Exchange Traded Funds (ETFs) valued at N7.636 million exchanged in 9 deals in contrast to a total of 8,000 units valued at N20.084 million exchanged hands last week in 13 deals.

The Financial Services sector was the most active during the week (measured by turnover volume), with 1.066 billion shares worth N8.640 billion exchanged hands by investors in 11,332 deals.

Volume in the sector was largely driven by the Banking subsector led by shares of Zenith Bank Plc, Fidelity Bank Plc, and Guaranty Trust Bank Plc.

Trading in the shares of the three banks accounted for 512.175 million shares, representing 51.06 per cent, 48.06per cent and 34.81per cent of the turnover recorded by the subsector, sector and total turnover for the week, respectively.

The Healthcare sector, boosted by activity in the shares of Neimeth International Pharmaceuticals Plc and Union Diagnostic and Clinical Services Plc followed on the week’s activity chart with a turnover of 186.818 million shares valued at N121.137 million in 58 deals.

Thirty two equities appreciated in prices during the week, higher than 22 of the preceding week. Nigerian Breweries Plc led on the gainers’ table by 4.53 per cent to gain N5.30 followed by Glaxo Smithkline Consumer Plc by 11.76 per cent to gain N3.00.

Thirty seven stocks depreciated in prices same as the preceding week. Mobil Oil Nigeria Plc led on the price losers’ table, dropping by -5.00 per cent to shed N6.25 followed by Arbico Plc with a loss of N1.85 or -9.67 per cent.

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