ASSETS & FINANCIALS

Equity market halts downturn with N73bn gain

Equity market halts downturn with N73bn gainThe NSE All-Share Index and Market Capitalisation both appreciated by 0.58 per cent to close the week at 24,427.73 and N12.743tn, respectively halting weeks of declines.

Analysis of the weekly transactions showed that all other indices finished higher during the week.

This is with the exception of NSE Main Board, NSE Banking, NSE Insurance, NSE AFR Bank Value, NSE AFR Div Yield, NSE MERI Value, NSE Consumer Goods and NSE Oil/Gas Indices, which depreciated by 1.04 per cent, 0.62 per cent, 0.80 per cent, 0.38 per cent, 0.69per cent, 1.45 per cent, 0.38 per cent and 4.67 per cent, respectively while NSE ASeM closed flat.

A total turnover of 1.35bn shares worth N14.43bn in 16,723 deals were traded last week by investors on the floor of the exchange, in contrast to a total of 1.02billion shares valued at N7.44bn that exchanged hands the previous week in 18,092 deals.

The financial services industry (measured by volume) led the activity chart with 847.68 million shares valued at N5.65bn traded in 9,068 deals; thus contributing 62.77 per cent and 39.14  per cent to the total equity turnover volume and value, respectively.

The conglomerates industry followed with 176.43 million shares worth N821.34m in 400 deals.

The third place was the consumer goods industry, with a turnover of 158.02million shares worth N3.77bn in 2,563 deals.

Trading in the top three equities namely FBN Holdings Plc, UACN Plc and United Bank for Africa Plc. (measured by volume) accounted for 434.50 million shares worth N2.41bn in 2,270 deals, contributing 32.18 per cent and 16.68 per cent to the total equity turnover volume and value, respectively.

Checks showed that 28 equities appreciated in price during the week, higher than 26 equities in the previous week.

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