Equity market rebounds, appreciates by N59bn

nigeria stock exchange Trading activities on the floor of Nigerian Stock Exchange (NSE) last week took upward trend, appreciating by N59 billion.
Specifically market capitalisation of listed equities improved by 0.46 per cent to N12.933 trillion from N12.874 trillion reported the previous week.
Also, the NSE All Share Index appreciated by 159.88 basis points to 35426.17 points from 35266.29 reported the previous week.
The NSE trading result for the week showed that all other indices finished lower with the exception of the NSE Premium, NSE Insurance, NSE Lotus II and NSE Industrial Goods indices that rose by 3.15 per cent, 0.78 per cent,1.10 per cent and 1.96 per cent respectively, while NSE ASeM Index closed flat NSE Corporate Governance index fell by 21.28 to 1381.56, The NSE Main Board index declined by 27.65 to 1544.54, NSE 30 went down by 7.69 to 1582.08 points, NSE Banking index decreased by 13.30 to 424.84, NSE Consumer Goods index dropped by 18.23 to 817.57 points, NSE Oil and Gas index sheds 0.69 basis points to 295.38 , NSE Pension Index depreciated by 25.89 to 1,288.23 points.
Investors traded a turnover of 968.947 million shares worth N10.246 billion in 9,654 deals in contrast to a total of 1.147 billion shares valued at N12.546 billion that exchanged hands last week in 16,649 deals.
The Financial Services Industry led the activity chart with 874.023 million shares valued at N7.671 billion traded in 6,029 deals; thus contributing 90.20 per cent and 74.87 per cent to the total equity turnover volume and value respectively.
The Consumer Goods Industry followed with account of 26.818 million shares worth N1.624 billion in 1,476 deals.
The third place was occupied by Oil and Gas Industry with a turnover of 24.795 million shares worth N91.439 million in 752 deals.
Trading in the top three equities namely – United Bank for Africa Plc, Nem Insurance Plc and Zenith Bank Plc accounted for 503.965 million shares worth N4.629 billion in 1,992 deals, contributing 52.01 per cent and 45.17 per cent to the total equity turnover volume and value respectively.
A review of the investment for the week indicated that 15 equities appreciated in price against 16 in the previous week.
The result also revealed that 45 equities depreciated in price compared with 56 quoted companies reported the preceding week, while 109 equities remained unchanged higher than 97 equities recorded in the preceding week.
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