The Nigerian Stock Exchange’s (The NSE) positive run was sustained in the week ending 4th December, as the Benchmark Index rose by 0.27% to close the week at 35,137.99 points. N55.621 billion was added to the market capitalization, taking it to N18.365 trillion.
The week’s trading session started on the last day of November (30th November) with a gain, this was followed by another gain on Tuesday. Wednesday and Thursday recorded declines in the Nigerian All-Share Index (NSE ASI), and ended with a gain on Friday.
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The mixed performance was inline with the outlook of Analysts at Investogist, as was stated in Monday’s daily market report.
A total turnover of 1.675 billion shares worth N25.425 billion in 23,650 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 1.816 billion shares valued at N25.791 billion that exchanged hands last week in 31,665 deals.
The Financial Services industry (measured by volume) led the activity chart with 1.206 billion shares valued at N12.064 billion traded in 13,534 deals; thus contributing 72.00% and 47.45% to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 102.368 million shares worth N3.616 billion in 3,511 deals. The third place was Natural Resources Industry, with a turnover of 86.626 million shares worth N17.492 million in 28 deals.
Trading in the top three equities namely Access Bank Plc, FBN Holding Plc and Zenith Bank Plc (measured by volume) accounted for 475.819 million shares worth N6.144 billion in 4,900 deals, contributing 28.41% and 24.16% to the total equity turnover volume and value respectively.
The overall volume of stocks traded declined by 7.78%, while the value of the traded stocks dropped by 1.42%. 25.31% less number of deals were done in the week, than in the preceding week.
The Investogist activity chart shows the the trend of the activity level which has remained relatively flat, while the NSE ASI upward trajectory continued.
At the end of trading on Friday, 4th December, the NSE ASI was up by 30.91% YTD. The YTD performances of the 5 indices under our watch are as stated below;
- Industrial Goods Index: +50.67%
- Insurance Index: +25.44%
- Banking Index: +9.68%
- Consumer Goods Index: -4.49%
- Oil & Gas Index: -16.09%
In the week in review, all of the 5 indices under our watch appreciated;
- Insurance Index: +1.56%
- Oil & Gas Index: +1.71%
- Industrial Goods Index: -2.21%
- Consumer Goods Index: -2.78%
- Banking Index: -3.13%
Twenty-two (22) equities appreciated in price during the week, lower than twenty-seven (27) equities in the previous week. Forty-five (45) equities depreciated in price, higher than forty-three (43) equities in the previous week, while ninety-four (94) equities remained unchanged, higher than ninety-one (91) recorded in the previous week.
Top gainers and losers in the week, as reported by The NSE in its weekly report is as below;
Four companies released financial statements for various periods in the week;
- Nigerian Enamelware Plc released 3rd quarter unaudited financial statements for the period ended October 31st.
- Cutix Plc released its 2nd quarter unaudited financial statements for the period ended October 31st.
- ECOBANK Transitional Incorporated (ETI) released its 3rd quarter financial statement for the period ended 30th September, 2020.
- Niger Insurance Plc released its 4th quarter financial statement for the period ended 31st December, 2020.
The price of AIICO Insurance Plc shares was adjusted on Wednesday, for the 1 for 5 bonus shares, from N1.10 it closed on 1st December, 2020 to N0.92.
Bonds
A total of 3,198 units valued at N3.898 million were traded this week in 10 deals compared with a total of 9,697 units valued at N12.173 million transacted last week in 8 deals.
Additional units of the Federal Government of Nigeria’s (FGN) 12.50% FGN MAR 2035 and 9.80% FGN JUL 2045 Bonds were listed on The Nigerian Stock Exchange on Friday, 4 December 2020.
ETPS
A total of 543,655 units valued at N4.694 billion were traded this week in 36 deals compared with a total of 471,624 units valued at N4.224 billion transacted last week in 88 deals.
The week ahead
Analysts at Investogist expect the mixed market performance to continue in the coming week.
By; Nnamdi M.
