Stock Market extends weekly gains by N10bn

Transactions on the equity market closed on a positive note last week as the Nigerian Stock Exchange All-Share Index and market capitalisation appreciated by 0.09 per to close at 25,221.87 and N13.16tn respectively.

All other indices finished higher with the exception of NSE Oil/Gas, NSE Lotus and NSE Industrial Goods Indices, which depreciated by 0.92 per cent, 0.12 per cent and 0.41 per cent while the NSE ASeM Closed flat.

A total turnover of 950.4 million shares worth N10.12bn in 16,647 deals were traded last week by investors on the floor of the Exchange, in contrast to a total of 1.33 billion shares valued at N13.93bn that exchanged hands the previous week in 19,392 deals.

The financial services industry (measured by volume) led the activity chart with 624.27 million shares valued at N6.18bn traded in 8,313 deals, thus contributing 65.68 per cent and 61.06 per cent to the total equity turnover volume and value respectively.

The consumer goods industry followed with 96.32 million shares worth N2.19bn in 3,148 deals.

The third place was occupied by the conglomerates industry, with a turnover of 89.38 million shares worth N145.61 million in 757 deals.

Trading in the top three equities, namely Zenith Bank Plc, Guaranty Trust Bank Plc and Transnational Corporation of Nigeria Plc (measured by volume), accounted for 298.90 million shares worth N4.76bn in 3,056 deals.

The three equities contributed 31.45 per cent and 47.03 per cent to the total equity turnover volume and value respectively.

Thirty-one equities appreciated in price during the week, compared with 29 in the previous week; 27 equities depreciated in price, compared with 33 in the previous week, while 105 equities remained unchanged, compared with 101 in the previous week.

A total of 50,479 units valued at N405.47m were traded last week in 20 deals, compared with a total of 25,904 units valued at N169.44m transacted the previous week in 17 deals.

An additional 2.03 billion ordinary shares of Consolidated Hallmark Insurance was listed on the Daily Official List of the Nigerian Stock Exchange on August 20, 2020.

The additional shares listed on the Exchange arose from the company’s rights issue of 2.03 billion ordinary shares of 50 kobo each at 52 kobo per share on the basis of one new ordinary shares for every four ordinary shares held as at February 3, 2020.

The rights issue was 100 per cent subscribed, the NSE said, adding the total issued and fully paid-up shares of Consolidated Hallmark Insurance had increased from 8.67 billion to 10.70 billion ordinary shares of 50 kobo each.