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Nigeria: Investors Stake N13.5 Billion On Shares

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Investors staked N13.453 billion on 901.542 million shares in 18,676 deals at the stock market last week. The value of trading was 46.5 per cent higher than the N9.181 billion invested in 961.833 million shares in 20,058 deals the previous week.

However, the market closed negatively as the Nigerian Stock Exchange (NSE) All-Share Index fell 0.12 per cent to close at 24,306.36. Similarly, market capitalisation as investors lost N15.5 billion to close at N12.680 trillion.

A look at the performance showed that the market recorded gains on Tuesday, Wednesday and Friday. But the gains were insufficient to lift the losses of Monday and Thursday.

Just like Nigeria, Kenyan stock market was also bearish, shedding 2.3 per cent. Ghana’s GSE Composite and Morocco’s Casablanca MASI Index which fell 0.8 per cent. On the positive side, Egypt’s EGX30 led gainers, up 1.8 per cent, while Mauritius’ SEMDEX index advanced 0.6 per cent.

Whereas the African markets were bearish, in the BRICS markets, performance was bullish as all indices gained. China’s Shanghai Composite led gainers, up 7.3 per cent. Brazil’s Ibovespa trailed by three per cent. Similarly, South Africa’s FTSE/JSE All Share and India’s BSE Sens indices rose 1.7 per cent and 1.6 per cent in that order. Russia’s RTS index closed the week 0.6 per cent higher.

In Asia and the Middle East, performance was mixed as three of five indices closed in the red. Thailand’s SET Index led decliners, down 1.7 per cent followed by Turkey’s BIST 100, which fell 1.1 per cent. UAE’s ADX General Index shed 0.4 per cent. On the other hand, Saudi Arabia’s Tadawul ASI index posted a positive return of 1.4 per cent to lead gainers, followed by Qatar’s DSM 20 Index which advanced 1.1 per cent.

In the developed markets, trading was positive. In the United States, the S&P 500 and NASDAQ indices rose 0.9 per cent and 3.1 per cent respectively. In the same vein, Hong Kong’s Hang Seng and Germany’s XETRA DAX indices climbed higher by 1.4 per cent and 0.8 per cent in order.

Conversely, in Europe, the UK’s FTSE All-share index fell 0.8 per cent following uncertainty caused by United Kingdom Prime Minister Boris Johnson’s determination to leave the European Union without a trade deal if no compromise is be reached. France’s CAC 40 and Japan’s Nikkei 225 indices declined 0.7 per cent and 0.1 per cent respectively.

A further analysis of the market turnover indicated that the Financial Services industry led the activity chart with 629.368 million shares valued at N5.186 billion traded in 9,887 deals. Thus, the sector contributed 69.81 per cent and 38.55 per cent to the total equity turnover volume and value respectively. The ICT industry followed with 59.506 million shares worth N5.161 billion in 684 deals. The third place was occupied by the Consumer Goods industry, with a turnover of 57.136 million shares worth N1.385 billion in 2,993 deals.

Trading in the top three equities namely Guaranty Trust Bank Plc, Fidelity Bank Plc and Zenith Bank Plc accounted for 293.678 million shares worth N4.042 billion in 4,334 deals, contributing 32.58 per cent and 30.05 per cent to the total equity turnover volume and value respectively.

A total of 301,094 units of exchange traded funds (ETFs) valued at N2.384 billion were traded last week in 14 deals, compared with a total of 358,114 units valued at N1.912 billion transacted the previous week in 25 deals.

Also, a total of 11,487 units of bonds valued at N14.769 million were traded in 13 deals compared with a total of 4,590 units valued at N5.515 million transacted two weeks ago in 14 deals.

Meanwhile, 25 equities appreciated in price during the week, higher than 13 equities in the previous week, while 33 equities depreciated in price, lower than 59 equities in the previous week.

Redstar Express Plc led the price gainers with 18.5 per cent, trailed by PZ Cussons Nigeria Plc with 15.3 per cent. Sterling Bank Plc chalked up 13.0 per cent, just as Cornerstone Insurance Plc garnered 10 per cent. Zenith Bank Plc gained 9.5 per cent, just as Chams Plc and Nigerian Aviation Handling Company Plc went up by 9.0 per cent apiece. GTBank Plc and Fidelity Bank Plc garnered 7.9 per cent and 7.1 per cent in that order, just as Law Union and Rock Insurance Plc closed 7.1 per cent and 7.0 per cent higher respectively.

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