Stock Market Weekly Summary: August 2, 2013

Photo L-R: Group Chief Executive Officer, Forte Oil Plc, Mr. Akin Akinfemiwa; President, Council of The Nigerian Stock Exchange (NSE), Alhaji Aliko Dangote, GCON; Chief Executive Officer, NSE, Mr. Oscar Onyema; Group Chairman, Forte Oil Plc, Mr. Olufemi Otedola, CON; Executive Director, Business Development, NSE, Mr. Haruna Jalo-Waziri at the Forte Oil Plc Bell Ringing at The Exchange last week in Lagos.

A turnover of 1.36 billion shares worth of ₦16.17 billion in 28,322 deals were traded last week by investors on the floor of the Nigerian Stock Exchange (NSE ) in contrast to a total of 2.50 billion shares valued at ₦17.04 billion recorded in the preceding week in 28,638 deals.

The Financial Services sector (measured by volume) led the activity chart with a turnover of 990.48 million shares valued at ₦7.92 billion traded in 15,243 deals; contributing 72.61%, 48.96%, 53.82% to the total equity turnover volume, value and number of deals respectively.

The Banking subsector of the Financial Services sector, boosted by activity in the shares of Sterling Bank Plc and UBA Plc was the most active subsector on the week’s activity chart with a subsector turnover of 638.02 million shares valued at ₦6.09 billion which exchanged hands by investors in 10,059 deals. Also, the Banking subsector accounted for 46.77% and 37.69% of the total subsector traded volume and value respectively.

Traded during the week were 80 units of NewGold Exchange Traded Funds (ETFs) valued at ₦165,000 executed in 2 deals compared with a total of 80 units valued at ₦165, 400 transacted in the previous week in 2 deals.

Also, 1,470 units of FGN bonds valued at ₦1.61 million were traded during the week in 7 deals in contrast to 40,200 units valued at ₦3,112 million transacted last week in 7 deals.

Over-the-counter bond market, a turnover of 146.63 million units valued at ₦148.10 billion in 1,043 deals were recorded last week in contrast to 215.032 million units worth ₦230.07 billion in 1,519 deals recorded in the preceding week.

Index Movement
The NSE All-Share Index appreciated by 3.44% to close on Friday at 38,424.34 while the market capitalisation of the listed equities on the main board also appreciated 3.44% to close at ₦12.169 trillion. Also, the NSE 30 Index appreciated by 3.64% to close at 1,805.63.

Likewise, the NSE Consumer Goods, NSE Banking, NSE Insurance, NSE Oil/Gas, NSE-Lotus II and NSE Industrial Goods appreciated by 3.89%, 4.60%, 0.42%, 0.75%, 3.54% and 5.09% respectively, while NSE-ASeM remained unchanged.

A total of 50 equities appreciated in prices during the week higher than the 28 equities of the preceding week; while 33 equities depreciated in prices lower than the 60 equities of the preceding week. A total of 111 equities remained constant higher than the 106 equities of the preceding week.