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Business & Finance

Equities Sustain Positive Momentum With N57bn Gain

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Bullish sentiments prevailed in the equities market this week as market capitalisation appreciated by N57 billion.
At the end of the week, the NSE All-Share Index and market capitalization appreciated by 0.65 per cent to close the week at 25,988.40 points and N8.940 trillion respectively.

Similarly, all other Indices finished higher during the week, with the exception of the NSE Premium Index and the NSE Industrial Goods Index that declined by 1.65 per cent, and 0.15 per cent respectively.
Meanwhile, a turnover of 1.111 billion shares worth N7.448 billion in 15,562 deals were traded this week by investors on the floor of the exchange in contrast to a total of 1.476 billion shares valued at N7.992 billion that exchanged hands last week in 15,743 deals.
The Financial Services Industry (measured by volume) led the activity chart with 900.274 million shares valued at N3.826 billion traded in 10,216 deals; thus contributing 81 per cent and 51.37 per cent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 72.524 million shares worth N92.218 million in 703 deals. The third place was occupied by the Consumer Goods Industry with a turnover of 52.498 million shares worth N1.901 billion in 2,262 deals.
Trading in the top three equities namely Fidelity Bank Plc, FCMB Holding Plc and Zenith Bank International Plc.(measured by volume) accounted for 427.854 million shares worth N1.646 billion in 2,795 deals, contributing 38.50 per cent and 22.10 per cent to the total equity turnover volume and value respectively.
On day by day transactions, the Nigerian equities market opens the week on a positive note on renewed optimism. The bourse inched up by 0.27 per cent to bring the year to date negative returns to 9.61 per cent. The index and market capitalization closed higher at 25,890.94 points and N8.897 trillion respectively. The market breadth closed positive with 20 advancers against 12 decliners.
Volume of trades stood at 186 million shares as compared to 256 million shares, (27.27 per cent) decline while value recorded 1.31 billion shares as against 1.49 billion shares, a drop of (12.09  per cent) from their previous trading levels. Transactions in the shares of Zenith Bank, Fidelity Bank, FBN Holdings, Transnational Corporation of Nigeria and United Capital topped the activity chart as most traded equities as measured by volume.
The NSE All Share Index and all sector indices trended north save for NSE Lotus Islamic Index which shed 0.11 per cent while NSE Industrial Index remains unchanged.
On Tuesday, the market lost 0.53 per cent as profit taking seems to be setting in after an 8-day rally. Market capitalization followed a similar trend losing N46.1 billion to close at N8.85 trillion. However, market activity saw the total value and volume traded increase by 7.9 per cent and 25.2 per cent to N1.4 billion and 233 million units in that order. In spite of the negative close, market breath mirrored somewhat upbeat sentiment coming in as 24 equity prices rose compared to 13 decliners.
Banking counters closed the session mostly on the uptrend as the Financial services sector returned 1.4 per cent with UBA, FCMB, and Access Bank leading gains. The Consumer Goods sector traded lower as Nestle Nigeria closed flat. Profit-taking in bellwether Dangote Cement pushed the Industrial Goods sector lower, with a -2.9 per cent depreciation. Bargain hunting  led to maximum gains in Oando, driving the Oil and Gas sector higher with a 0.6 per cent return.
The local bourse got back to winning ways on Wednesday as stocks appreciated across the board. There were 27 gainers against 12 losers. The NSE All Share Index and market capitalisation recovered 51 basis points each even as the NSE Premium Index and NSE 30 Index rose by 0.60 per cent and 0.45 per cent respectively. Likewise, every sectored gauge closed in the green as NSE Banking Index, NSE Consumer Goods Index and NSE Industrial Index increased by 0.67 per cent, 0.55 per cent and 0.40 per cent respectively.
At the close of business, transacted volumes and Naira votes declined by 7.91 per cent and 4.49 per cent respectively. Shares of Lafarge Africa accounted for 24 per cent of total Naira votes, followed by Zenith Bank shares which gulped 20 per cent.
Leading the gainers, the Okomu Oil Palm Company appreciated by N1.50 kobo to close at N31.50 kobo a share. In the same vein, building materials manufacturers, Dangote Cement and Lafarge Africa, strengthened by N0.88 kobo and N0.50 kobo to N164.00 kobo and N85.50 kobo respectively. Conversely, packaging materials manufacturer, Beta Glass, tanked by N2.50 kobo to N47.50 kobo a share while white goods and homecare products maker, P.Z. Cussons Nigeria, lost N0.50 kobo to close at N24.70 kobo a share.
At the close of trading on Thursday, bullish sentiments prevailed in the equities market, as the NSE All Share Index gained 15 points to settle at 25,923.77 points. Market capitalization also gained N13.2 billion to close at N8.9 billion while both volume and value of trade increased by 52 per cent and 44.5 per cent to close at N2.1 billion and 310.7 million units in that order.
The key sectors saw positive sentiments across the board however the consumer goods sector closed 0.5 per cent lower on the back of losses in Nigerian Breweries  -0.5% and Nestle Nigeria despite gains in PZ. For the gainers, the Oil and Gas sector saw the highest returns at 0.6 per cent, driven by gains in Oando which rallied strongly for the third consecutive day. In the same vein, gains in Dangote Cement pushed up the Industrial goods sector by 0.6 per cent while the Financial Services saw a 0.2 per cent return due to gains in Access Bank and Guaranty Trust Bank.
The local equities market finished Friday on a positive note as the bulls produced 21 gaining stocks against only 12 losers. By business close, NSE All Share Index and market capitalisation upped by 25 points each amid declines in investments.
Share price of local units of oil and gas multinationals operating in the downstream sector, Mobil Oil Nigeria and Total Nigeria, appreciated by N11.05 kobo and N7.05 kobo to close at N171.00 kobo and N150.00 kobo respectively. In the same vein, integrated energy solutions provider, Oando, buoyed by N0.49 kobo to N5.35 kobo a share. Conversely, Nestle Nigeria shares shed N10.00 kobo to close at N690.00 kobo apiece while shares of Dangote Cement lost N1.01 kobo to close at N164.00 kobo each.
Summary of price changes indicates that 39 equities appreciated in price during the week, higher than 35 equities of the previous week. Twenty-two equities depreciated in price, lower than 24 equities of the previous week, while 128 equities remained unchanged, lower than 130 equities recorded in the previous week.
Tiger Branded Consumer Goods Plc led gainers chart with 59.30 per cent per share to close at N2.74 kobo, followed by Oando Plc with 53.30 per cent to close at N5.35 kobo, Honeywell Flour Mills Plc with 25.00 per cent to close at N0.1.80 kobo, Fidson Healthcare Plc with 19.57 per cent to close at N2.75 per share and Flour Mills of Nigeria Plc with 18.03per cent to close at N20.16 kobo per share.
Others on the chart are, FCMB Plc with 15.49 per cent to close at N0.82 kobo, Unity Bank Plc with 11.11 per cent to close at N0.70 kobo, UBA Plc with 10.61 per cent to close at N3.44 kobo, Fidelity Bank Plc with 9.57 per cent to close at N1.26 kobo, and Total Nigeria Plc with 8.89 per cent to close at N150.00 kobo.
On the other hand Beta Glass Plc led on the losers table with 9.00  per cent loss to close at N45.50 kobo, A. G. Leventis Plc lost 5.00 per cent to close at N0.76 kobo, Caberton Offshore Support Group Plc with 5.00 per cent to close at N1.52 kobo, Union Dicon Plc with 4.98 per cent to close at N11.22 kobo, Nigerian-German Chemical Plc with 4.89 per cent to close at N4.67 kobo.
Others on the chart are, Ikeja Hotel Plc with 4.76 per cent to close at N2.60 kobo, Learn Africa Plc with 4.65 per cent to close at N0.82 kobo, Law Union & Rock Insurance Plc with 4.48 per cent to close at N0.64 kobo, Nestle Nigeria Plc with 3.50 per cent to close at N690.00 kobo per share and Livestock Feed Plc with 2.48 per cent loss to end the week with N1.18 kobo per share.

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