Nigerian Bourse: Local Investors’ reposition investments

Nigeria Stock Exchange trading floor

Activities at the Nigerian Stock Exchange (NSE), rebounded marginally last week, as some domestic investors exhibited greater optimism, even as crude oil prices dipped by about 75 per cent from its July 2014 price.

While investors, especially local market players, remain sceptical about NSE guided protection of equity prices free falls, investors’ continued to reposition their investments in three subsectors of the bourse.

An analysis of the week’s transactions on the nation’s bourse showed that investors’ market rebound, driven by investors’ high level optimism, reflected more in the Financial Services Industry, Conglomerates and the Consumer Goods Industry.

A further breakdown showed also that the financial services industry (measured by volume) led the activity chart with 1.91 billion shares valued at N6.13 billion traded in 13,687 deals or 87.57 per cent and 57.03 per cent in total equity turnover volume and value respectively.

Equity Assurance Plc, FCMB Group Plc and Zenith International Bank Plc, accounted for 1.126 billion shares worth N2.325 billion in 3,544deals or 51.75 per cent and 21.62 per cent of the financial services industries transactions.

Investors’ appetite for the Conglomerates Industry accounted for 97.545 million shares worth N261.502 million in 959 deals while the Consumer Goods Industry attracted a turnover of 94.738million shares worth N3.122 billion in 3,531 deals.

Also traded in the week under review week were 33,808 units of Exchange Traded Products (ETPs) valued at N437,210.58 in 33deals, compared with 3,650 units worth at N1.641million traded in the previous week in 40Deals.

A total of 1,000 units of Federal Government Bonds worth N1.157 million were traded in 4 deals, as against 275 units valued at N317,435.84 transacted in the previous week in 3 deals.

The investors’ optimism and huge reposition in the three sub-sectors impacted positively on NSE All -Share Index and Market Capitalization that grew by 1.33 per cent to close the week at 23,826.50 points and N8.194 trillion respectively.

Similarly, all other Indices finished higher in the period under review, with the exception of the NSE Insurance Index ,NSE Oil and Gas, NSE Lotus II and NSE Industrial Goods Index that declined by -0.23 per cent, -5.19 per cent, -2.66 per cent and -3.52 per cent respectively.

The NSE AseM Index, on the other hand closed flat.

In the period under review, UAC led the gainers chart, chalking up N2.71 to close at N19.86 per share.

GTBank share price appreciated by N1.99 to close at N15.36 while Zenith gained N1.86 to close at N19.70 per share.

First Bank Nigeria Holdings share price rose by 90k to close at N4.50 while UBA gained 39k to close at N2.99 per share.

Conversely, indigenous oil company, Seplat led the losers table, shedding N20.25 to close at N156.71 per share.

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Guinness lost N12.14 to close at N101.85 per share while Okomu Oil share price depreciated by N2.64 to close at N30.00.

Ashaka Cement Company share price also fell by N2.50 to close at N24 while Flour Mills lost N1.85 to close at N16.93 per share.

Overall, investors bought 2.18 billion shares worth N10.75 billion in 21,471 deals across the floor of the Exchange in contrast to 1.46 billion shares valued at N14.17 billion that exchanged hands last week in 15,164 deals.


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