The Nigerian Stock Exchange (NSE) continued it’s rise in the first week of November, with its All-Share Index (NSE-ASI) appreciating by 485.48 points to close the week at 31,016.17 points.
The Market Capitalization rose by N248.984 billion to N16.206 trillion at the close of trading on Friday.
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- Transcorp acquires Afam Power
A total turnover of 2.067 billion shares worth N22.636 billion in 25,187 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 1.909 billion shares valued at N23.610 billion that exchanged hands last week in 23,578 deals.
The Financial Services industry (measured by volume) led the activity chart with 1.575 billion shares valued at N13.725 billion traded in 14,521 deals; thus contributing 76.21% and 60.63% to the total equity turnover volume and value respectively.
The Consumer Goods Industry followed with 178.574 million shares worth N3.609 billion in 4,669 deals. The third place was the Conglomerate Industry, with a turnover of 102.697 million shares worth N155.195 million in 599 deals.
Trading in the top three equities namely Access Bank Plc, FBN Holding Plc and Zenith Bank Plc (measured by volume) accounted for 686.338 million shares worth N7.599 billion in 4,557 deals, contributing 33.21% and 33.57% to the total equity turnover volume and value respectively.
The uptick in the activity level continued as can be seen from the activity chart below. In the week in review, the activity level was mixed as the volume of traded stocks increased by 8.27% while the value of stocks traded reduced by -4.12%.
The no of deals involve in the trading activities in the week increased by 6.82%.
At the end of trading on Friday, 6th November, the NSE ASI is up by 15.55% YTD. The YTD Performances of the 5 indices under our watch are as below.
- Industrial Goods Index: +27.01%
- Insurance Index: +13.81%
- Banking Index: +6.69%
- Consumer Goods Index: -7.36%
- Oil & Gas Index: -18.61%
In the week in review, 3 of the 5 indices under our watch appreciated while 2 depreciated;
- Industrial Goods Index: +2.87%
- Banking Index: +2.17%
- Consumer Goods Index: +0.57%
- Oil & Gas Index: -0.77%
- Insurance Index: -1.32%
Forty (40) equities appreciated in price during the week, lower than Sixty-eight (68) equities in
the previous week.
Twenty-four (24) equities depreciated in price, higher than Six (6) equities in the previous week, while ninety- seven (97) equities remained unchanged, higher than ninety-four (94) recorded in the previous week.
Investor sentiment as measured by market breadth (advance/decline ratio) remained strong at 1.67x considerably lower than 11.33x recorded last week .
Top gainers and losers in the week, as reported by The NSE in its weekly report is as below;
28 companies released financial reports to the Nigerian Stock Exchange and the investing public, most of the results were for the 3rd quarter ended 30 September, 2020.
On Thursday, 5 November, 2020, 4,296,330,500 outstanding ordinary shares of Law Union and Rock Insurance Plc were delisted from the Daily Official List of The Exchange.
On Tuesday, 3 November, 2020, Sunu Assurances Nigeria Plc completed its share capital reconstruction. The total issued and fully paid up shares of Sunu Assurances Nigeria Plc has now reduced from 14,000,000,000 to 2,800,000,000 ordinary shares of 50 kobo each.
Bond Market
A total of 6,011 units valued at N7.543 million were traded this week in 14 deals compared with a total of 7,730 units valued at N9.211 million transacted last week in 15 deals.
A total of 6,011 units valued at N7.543 million were traded this week in 14 deals compared with a total of 7,730 units valued at N9.211 million transacted last week in 15 deals.
ETPs
A total of 238,441 units valued at N2.054 billion were traded this week in 8 deals compared with a total of 262,849 units valued at N2.160 billion transacted last week in 52 deals.
The Week Ahead
We expect the positive run to continue, as Investors continue to take positions in the equities market.
Following its acquisition of Afam Power Plc, we expect TRANSCORP to be the toast of Investors this week.
By; Nnamdi M.
