Nigeria Stock Market index up 0.28% this week as Fidelity, Omoluabi, Dimaond emerge most traded

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The Nigerian Stock Market closed on a positive note this week following growth across most sub sectors.

Despite the market closing in red for three of the five trading sessions, the NSE index movement saw the banking index recording the highest growth last week with 3.27 percent while the ASeM index was next with a growth of 2.84 percent. The pension index added 1.10 percent while the Premium, NSE 30 and Industrial Indices appreciated 1.38, 0.11 and 0.07 percent respectively.

Consequently, the NSE All Share Index (ASI) grew 0.28 percent or 74.54 points to close last week at 26,325.93 points while, the year to date return improved to settle at -2.04 percent.

Market Capitalization also appreciated by 0.28 percent or N26 billion to close the week at N9.058 trillion.

Meanwhile, other Indices that finished lower during the week were the NSE-Main Board, NSE Insurance, NSE Consumer Goods, NSE Oil/Gas and NSE Lotus II indices that depreciated by 0.39 percent, 0.34 percent, 1.82 percent, 3.15 percent and 1.87 percent respectively.

Market breadth also improved in the course of the week as price movement chart showed that Thirty-one equities led by Diamond Bank appreciated in price during the week, higher than eighteen equities of the previous week. Thirty-four equities topped by Cutix Plc depreciated in price, higher than thirty-one equities of the previous week, while one hundred and ten equities remained unchanged lower than one hundred and twenty-six equities recorded in the preceding week.

Fidelity Bank topped the week’s activity chart, followed by, Omoluabi Savings and Loans Plc and Diamond Bank. They accounted for 299.270 million shares worth N277.933 million in 1,029 deals, contributing 26.79 percent and 3.07 percent to the total equity turnover volume and value respectively.

During the week, a total turnover of 1.117 billion shares worth N9.041 billion in 16,482 deals were traded by investors on the floor of the Exchange in contrast to a total of 4.319 billion shares valued at N7.376 billion that exchanged hands last week in 9,330 deals.

The Financial Services Industry (measured by volume) led the activity chart with 903.696 million shares valued at N3.336 billion traded in 9,240 deals; thus contributing 80.88 percent and 36.90 percent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 67.147 million shares worth N109.014 million in 609 deals. The third place was occupied by Consumer Goods Industry with a turnover of 59.710 million shares worth N4.002 billion in 2,686 deals.

Also traded during the week were a total of 2,443 units of Exchange Traded Products (ETPs) valued at N730,619.05 executed in 23 deals, compared with a total of 55 units valued at N505.65 transacted previous week in 11 deals, while a total of 5,200 units of Federal Government Bonds valued at N5.004 million were traded in 5 deals, compared with a total of 5,100 units valued at N5.120 million transacted previous week in 2 deals.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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