29 January 2018

Nigeria: Transcorp, FCMB, Others Lift NSE's Volume By N42.5 Billion

Heavy transactions in the shares of some companies, especially Transnational Corporation (TRANSCORP), and First City Monument Bank (FCMB), last week, lifted the volume of shares traded, as a turnover of 7.157 billion shares worth N42.545billion were recorded in 39,037 deals by investors on the floor of the Nigerian Stock Exchange (NSE).

This volume of shares traded, was however higher than a total of 5.011 billion units worth N45.816billion exchanged in 44,569 deals during the week ended January 19.

Also, at the end of last week's transactions, the conglomerates industry upstaged the financial sector in volume terms, leading the activity chart with 4.110 billion shares valued at N10.016billion traded in 2,454 deals; thus contributing 57.43 per cent to the total equity turnover volume.

The financial services industry followed with 2.757 billion units worth N25.398billion in 25,853 deals.

The consumer goods industry ranked third with a turnover of 156.224 million shares worth N5.304billion in 5,875 deals.

Specifically, trading in the top three equities namely - Transnational Corporation of Nigeria Plc, FCMB Group Plc, and Skye Bank Plc (measured by volume) accounted for 4.786 billion shares worth N11.341billion in 5,216 deals, contributing 66.86 per cent to the total equity turnover volume.

Also traded during the week were a total of 153,755 units of Exchange Traded Products (ETPs) valued at N1.883million executed in 11 deals, compared with a total of 1.947 million units valued at N105.567million that was transacted last week in 15 deals.

A total of 6,715 units of Federal Government Bonds valued at N5.318million were traded this week in 15 deals, compared with a total of 4,437 units valued at N4.260million transacted last week in nine deals.

The NSE All-share index and market capitalisation depreciated by 2.93 per cent and 2.87 per cent to close the week at 43,773.76 and N15.692trillion respectively.

Similarly, all other indices finished lower during the week with the exception of the NSE Consumer Goods and NSE Oil/Gas Indices that appreciated by 2.15 per cent and 0.08 per cent respectively while the NSE ASeM Index closed flat.

Further review of last week's trading activities showed that 30 equities appreciated in price during the week, lower than 40 the previous week. About 44 equities depreciated in price, higher than 32 last week.

About 98 equities remained unchanged lower than one hundred (100) equities recorded in the preceding week.

An additional volume of 67,801,163 ordinary shares of Nigerian Breweries Plc ("NB") was listed on the daily official list of the exchange on January 24th.

These additional shares were as a result of the scrip dividend scheme offered to eligible shareholders of Nigerian Breweries, who elected to receive new ordinary shares in lieu of cash dividends with respect to the 258 kobo final dividend declared for the year ended December 31, 2017.

With this listing, the company's total issued and fully paid up shares now stands at 7,996,902,051 ordinary shares.


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