Investors regain confidence in stock market, reap N3.28tn
Investors have regained confidence in
the stock market following the N3.28tn gain recorded in the market in
the last 11 trading days.
As of Wednesday, the gains recorded from the bullish run totalled N1.92tn.
The stock market recorded its biggest
daily gain in seven months on Wednesday as the All Share Index gained
3.54 per cent, a level last seen on May 28, 2019.
However, a further N197bn gain was
recorded at the end of trading on Thursday, which pushed the market
capitalisation to N13.98tn.
The ASI increased by 2.92 per cent to settle at 29,395.57 basis points.
The stock market also witnessed a boost
on Thursday following the listing of BUA Cement Plc on the daily
official list of the Nigerian Stock Exchange, which added N1.18tn to the
total market capitalisation of the Exchange.
The market capitalisation thus closed at N15.16tn on Thursday.
BUA Cement listed 33.864 billion
ordinary shares of 50 kobo each at N35, which surged to N38.45 as of the
end of trading on Thursday and N41 on Friday.
At the end of the week, a total turnover
of 2.683 billion shares worth N32.646bn in 30,956 deals were recorded
by investors on the floor of the Exchange, in contrast to a total of
2.309 billion shares valued at N21.675bn that exchanged hands the
previous week in 14,906 deals.
The financial services industry
(measured by volume) led the activity chart with 2.035 billion shares
valued at N18.592bn traded in 18,876 deals; thus contributing 75.87 per
cent and 56.95 per cent to the total equity turnover volume and value
The conglomerates industry followed with 225.720 million shares worth N504.123m in 1,217 deals.
The third place was occupied by the
consumer goods industry, with a turnover of 123.382 million shares worth
N3.116bn in 3,403 deals.
Trading in the top three equities
namely, United Bank for Africa Plc, Zenith Bank Plc and Wapic Insurance
Plc (measured by volume), accounted for 934.661 million shares worth
N10.925bn in 7,194 deals, contributing 34.84 per cent and 33.46 per cent
to the total equity turnover volume and value respectively.
In the Exchange Traded Products market, a
total of 15,390 units valued at N13.095m were traded last week in 32
deals, compared with a total of 4,033 units valued at N4.233m transacted
the previous week in 26 deals.
A total of 64,840 units of Federal
Government bonds valued at N71.362m were traded last week in 30 deals,
compared with a total of 204,300 units valued at N237.207m transacted
the previous week in four deals.
Fifty-one equities appreciated in price
during the week against 20 losers, compared to the 44 gainers and 24
losers recorded the previous week.
The top five gainers for the week were
Dangote Cement Plc, Presco Plc, Livestock Feeds Plc, Okomu Oil Palm Plc
and Consolidated Hallmark Insurance Plc, with respective gains of 21.13
per cent, 19.79 per cent, 18 per cent, 16.81 per cent and 16.67 per
The top five losers were UPDC Real
Estate Investment Trust, NCR (Nigeria) Plc, Union Dicon Salt Plc,
Tripple Gee and Company Plc and Niger Insurance Plc, whose respective
share prices declined by 18.60 per cent, 10 per cent, 9.88 per cent,
9.38 per cent and 9.09 per cent.
Source: Punchng, January 13, 2020