Equities Market Ends Week In Red As Investors Grab N5.829b In One Week

By Ololade Julianah,Lagos

At the close of trading on Friday, investors of The Nigerian Stock Exchange (NSE) recorded a turnover of 885.367 million shares worth N5.829 billion in 13,870 deals in contrast to a total of 8.054 billion shares valued at N13.328 billion that exchanged hands in the previous week in 15,212 deals.

The Financial Services Industry led the activity chart with 747.817 million shares valued at N3.832 billion traded in 8,768 deals; thus contributing 84.46 percent and 65.73 percent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 45.517 million shares worth N977.579 million in 2,145 deals. The third place was occupied by the Agriculture Industry with a turnover of 32.313 million shares worth N48.460 million in 247 deals.

Zenith International Bank Plc, Guaranty Trust Bank Plc and United Bank For Africa Plc.(measured by volume) accounted for 290.319 million shares worth N3.015 billion in 3,795 deals, contributing 32.79 percent and 51.72 percent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 4,511 units of Exchange Traded Products (ETPs) valued at N1.401 million executed in 38 deals, compared with a total of 690 units valued at N572,158.80 transacted last week in 28 deals.

A total of 3,241 units of Federal Government and Corporate Bonds valued at N3.579 million were traded in 4 deals compared to a total of 28,280 units of Federal and State Government Bonds valued at N29.572 million transacted last week in 8 deals.

The NSE All-Share Index and Market Capitalisation appreciated by 0.53% to close the week at 24,850.11 and N8.548 trillion respectively.

Similarly, all other Indices finished higher during the week, with the exception of the NSE Consumer Goods Index, NSE Oil/Gas Index and The NSE Lotus Index that declined by 0.83 percent, 0.73 percent and 0.77 percent respectively.

Meanwhile, Nigerian equities lost their bullish momentum as the bearish sentiments returned, resulting in the decline of the overall performance gauges, NSE ASI and market capitalisation, by 0.24 percent each.

Shares of Seplat Petroleum Development Company and Mobil Oil Nigeria climbed higher by 400 kobo and 99 kobo to N340 and N155 per share, respectively.

Conversely, shares food and beverage giant, Nestle Nigeria, shed N20.01 to N620 while shares of Guinness Nigeria lost 184 kobo to close at N98 per share.

Nigerian Interbank Treasury Bills True Yields softened for most tenors as bargain hunting activities resumed – yields on the 1 month, 3 months and 12 months tenored bills decreased to 3.90 percent, 6.81 percent and 10.98 percent respectively. Meanwhile, interbank offered rates continued trending southwards for all tenor buckets amid ease in financial system liquidity –NIBOR for overnight funds, 1 month, 3 months and 6 months mellowed to 5.58 percent, 8.33 percent, 10.43 percent and 12.35 percent respectively.

The over the counter (OTC) FGN bond prices appreciated for most maturities as bargain hunting resumed – 20-year, 10.00 percent FGN July 2030 bond, 10-year, 16.39 percent FGN January 2022 paper and 7-year, 16.00 percent FGN June 2019 instrument gained N0.47 (yield fell to 12.97 percent), N0.59 (yield mellowed to 12.50 percent) and N1.13 (yield softened to 12.24 percent) respectively.

At the London Stock Exchange, Nigeria’s eurobonds depreciated as the bears returned. The 10-year, 6.75 percent January 28, 2021 bond and 5-year, 5.13 percent July 12, 2018 bond lost USD0.63 (yield rose to 7.16 percent) and USD0.21 (yield increased to 4.94 percent) respectively.

First City Monument Bank emerged the most traded equity with an exchange of 14.396 million shares worth N15.177 million. It was trailed by Access Bank; having accounted for 10.821 million shares valued N42.193 million, while Livestock sold 6.800 million shares worth N6.254 million, FBN Holdings exchanged 6.739 shares valued N22.456 million, while United Capital traded 6.284 million shares worth N9.457 million.