The week started positively for the Nigerian Stock Exchange (The NSE) equities market, as its benchmark index advanced by 0.33% to close at 40,571.67 points on Monday. Investors’ wealth grew by N68.961 billion, with market capitalization settling at N21.224 trillion.
The rise in the share prices of Seplat Petroleum (SEPLAT), Lafarge Africa (WAPCO) and Guaranty Trust Bank (GUARANTY) were the biggest contributors to the positive performance.
Activity level
The activity level waned, as the volume of shares traded dropped by 47.87%, while the value of the traded stocks dropped by 58.31%.
A total 206.243 million units of shares valued at N2.163 billion was traded in 4.264 deals.
The shares of ZENITHBANK were the most traded by volume, with 21.506 million units, followed by MBENEFIT with 15.002 million units and UAC-PROP with 14.833 million units.
ZENITHBANK shares were also the most traded by value, with shares valued at N539.621 million exchanging hands.
GUARANTY and MTNN shares were the second and third most traded by value, with shares worth N382.691 million and N349.771 million respectively.
Performance of Indices
All but one of the indices under our watch closed positively;
- Oil & Gas Index advanced by 5.35%
- Banking Index advanced by 1.81%
- Insurance Index advanced by 1.38%
- Industrial Good Index advanced by 0.35%
- Consumer Goods Index declined by 0.03%
Investor Sentiments
Investor sentiment as measured by market breadth (advance/decline ratio) weakened to 2.3x from the 3.4x recorded previously as 30 stocks gained against 13 losers.
Top 5 gainers by percentage are;
- SEPLAT gained 10.00% to close at N544.50
- JAPAULGOLD gained 10.00% to close at N0.78
- MBENEFIT gained 9.86% to close at N0.46
- AIICO gained 9.26% to close at N1.18
- MULTIVERSE gained 9.09% to close at N0.24
Top 5 losers by percentage are;
- ROYALEX lost 10.00% to close at N0.27
- CONOIL lost 10.00% to close at N18.90
- RTBRISCOE lost 9.09% to close at N0.20
- CHIPLC lost 8.70% to close at N0.42
- SOVREINS lost 7.69% to close at N0.24
Outlook
We expect bargain hunting to continue influencing the direction of the market.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
