Stock Market Weekly Summary –Week Ended Jan. 12, 2018

A total turnover of 5.021 billion shares worth N68.974 billion in 41,542 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 2.417 billion shares valued at N18.813 billion that exchanged hands last week in 20,874 deals.

The Financial Services Industry (measured by volume) led the activity chart with 3.417 billion shares valued at N31.649 billion traded in 24,375 deals; thus contributing 68.06% and 45.89% to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 894.357 million shares worth N2.180 billion in 3,032 deals. The third place was occupied by Consumer Goods Industry with a turnover of 380.493 million shares worth N26.243 billion in 7,408 deals.

Trading in the Top Three Equities, namely – Transnational Corporation of Nigeria Plc, Diamond Bank Plc and FBN Holdings Plc (measured by volume) accounted for 1.975 billion shares worth N7.473 billion in 8,549 deals, contributing 39.33% and 10.83% to the total equity turnover volume and value respectively.

Also traded during the week were a total of 777,535 units of Exchange Traded Products (ETPs) valued at N7.689 million executed in 15 deals, compared with a total of 305,604 units valued at N3.498 million that was transacted last week in 8 deals. 

A total of 6,301 units of Federal Government Bonds valued at N6.298 million were traded this week in 12 deals, compared with a total of 2,162 units valued at N2.016 million transacted last week in 9 deals.

The NSE All-Share Index and Market Capitalisation appreciated by 10.21% and 10.95% to close the  week at 42,898.90 and N15.368 trillion respectively.

Similarly, all other indices finished higher during the week with the exception of the NSE ASeM Index that closed flat.

A total of Sixty-six (66) equities appreciated in price during the week, higher than fifty-five (55) of the previous week. Seven (7) equities depreciated in price, lower than twelve (12) equities of the previous week, while ninety-nine (99) equities remained unchanged lower than one hundred and five (105) equities recorded in the preceding week.

New/Supplementary Listings –Bonds
A total volume of 196,165 units of 12.738% FGNSB DEC 2020 and 50,253 units of 11.738% FGNSB DEC 2019 were admitted to trade at the Exchange on the 10th of January, 2018.

Meanwhile, an additional volume of 12,133,646,995 ordinary shares of Union Bank of Nigeria Plc were listed on The Daily Official List of The Exchange on the 12th of January, 2018. These additional shares were as a result of the just concluded Union Bank of Nigeria Plc right issue of 5 new ordinary shares for every 7 ordinary shares held as at 21 August 2017. With this listing, the company’s total issued and fully paid up shares now stands at 29,120,752,788 ordinary shares.

7-Up Bottling Company Plc –Full Suspension of Trading in Shares: Trading in the shares of 7Up Bottling Company Plc has been placed on Full suspension on The Nigerian Stock Exchange with effect from the 12th of January 2018. The suspension is for the purpose of determining the shareholders who will qualify to receive the Scheme consideration following the decision of the company’s majority shareholder, Affelka S.A, to acquire all outstanding and issued shares of 7-Up Bottling Company Plc that are not currently owned by Affelka.

The company’s shareholders passed a resolution to this effect at the Court Ordered Meeting of the company held on Thursday, 11 January 2018. The Scheme will result in the voluntarily delisting of 7Up Bottling Company Plc from the Daily Official List of The Exchange.

Flour Mills of Nigeria Plc –Proposed Rights Issue: The Rights Issue of Flour Mills of Nigeria Plc of 1,476,142,418 ordinary shares of 50 Kobo each at the offer price of N27.00 per share on the basis of nine (9) new ordinary shares for every sixteen (16) ordinary shares held as at 8 December 2017 will be opened for subscription as shown below: Acceptance list opens –Monday, 15 January 2018; Acceptance list closes –Wednesday, 21 February 2018.