Investors at the close of trading last Thursday, exchanged a turnover of 1.149 billion shares worth N7.796 billion in 15,027 deals, in contrast to a total of 1.442 billion shares valued at N11.5 billion staked in the previous week in 18,849 deals to close the equity market in the green territory following renewed confidence as a result of appointment of 10 market makers during the week.
The market opened for four days during the week due to the two-day public holidays declared by the Federal Government of Nigeria to mark the Easter celebrations.
The local Bourse announced the names of the Market Makers on the trading floor of the Nigerian Stock Exchange (NSE).
The unveiling of the selected Market Makers was described by the Chief Executive Officer of The Exchange, Mr Oscar Onyema, as a major landmark at bringing back liquidity and depth into the second largest market in sub-Saharan Africa.
According to Onyema “This is a great milestone and a major step in the direction of turning the market round to have liquidity and bring depth back into the market. We will continue to move forward on this”.
The 10 Stockbroking firms selected from a list of 20 that applied were: Stanbic IBTC, Renaissance Capital, Future View Securities, Vetiva Capital, ESS/DunnLoren Merrifield, WSTC, Capital Bancorp, FBN Securities, Greenwich Securities and CSL Stockbrokers.
The Financial Services sector accounted for 857.99 million shares valued at N4.94 billion traded in 8,856 deals. The Natural Resources sector followed with 70.547 million shares valued at N35.54 million traded in 13 deals. In the preceding week, the Financial Services sector led on the activity chart and was followed by the Consumer Goods sector.
The Banking subsector of the Financial Services sector was the most active the previous week (measured by turnover volume) with 738.97 million shares worth N4.87 billion exchanged by investors in 8,450 deals. Volume in the Banking subsector was largely driven by activity in the shares of Diamond Bank Plc, Guaranty Trust Bank Plc and Zenith Bank Plc. Trading in the shares of the three banks accounted for 417.2 million shares, representing 56.46 per cent, 48.63 per cent and 36.30 per cent of the turnover recorded by the subsector, sector and total turnover for the week, respectively.
The Diversified Industries subsector of the Conglomerates sector, boosted by activity in the shares of Transnational Corporation of Nigeria Plc, followed on the week’s activity chart with a subsector turnover of 66.26 million shares valued at N33.5 million traded in 212 deals.
In the preceding week, the Banking subsector led on the activity chart and was followed by the Insurance subsector. Also traded during the week were 30 units of NewGold Exchange Traded Products (ETFs) valued at N76,290.00 exchanged in 5 deals.
There were no transactions executed through the stock market in the Federal Government Development Stocks, State and Local Government Bonds and Corporate Bonds/Debentures Stocks sectors.
Consequently the NSE All-Share Index appreciated by 289.46 points or 1.40 per cent to close at 20,941.93 while the market capitalisation of the 187 Main Board equities increased from N6.549 trillion to N6.641 trillion. Also, the NSE-30 Index appreciated by 17.35 points or 1.85 per cent to close at 956.19. In the preceding week, the NSE-ASI and NSE-30 Index depreciated by 2.5 per cent and 3.45 per cent, respectively.
Two of the four sectorial indices appreciated during the week compared to one during the preceding week. The NSE Insurance Index appreciated by 1.64 points or 1.32 per cent to close at 125.92.Also the NSE Banking Index appreciated by 9.93 points or 3.51 per cent to close at 292.97.
However, the NSE Consumer Goods Index depreciated by 6.29 points or 0.37 per cent to close at 1,701.75. Also, the NSE Oil/Gas depreciated by 3.32 points or 1.66 per cent to close at 196.64.
Further analysis showed that 28 equities appreciated in price during the week, higher than the 25 of the preceding week. Mobil Oil Plc led on the gainers’ table with a gain of N13.33 or 10.05 per cent to close at N146.00 per share while Okomu Oil Palm Plc followed with a gain of N5.49 or 19.60 per cent to close at N33.50 per share, among other gainers.
On the other hand 34 stocks depreciated in price, lower than the 39 of the preceding week. Guinness Nigeria Plc led on the price losers’ table, dropping by N9.70 or 4.04 per cent to close at N230.14 per share while Oando Plc followed with a loss of N3.01 or 13.68 per cent to close at N19.00 per share, among other losers.