Nigerian Stock Exchange equities market closes positive

By Salamatu Ejembi, Lagos.

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The Nigerian Stock Exchange has closed this week’s trading activities on a positive note as the bulls dominated the equities market all week.

At the close of Friday’s transactions, the NSE All-Share Index and Market Capitalization appreciated by 9.07% and 16.55% to close the week at N29,415.39 trillion and N15.175 trillion respectively.

Likewise, all other indices finished higher with the exception of NSE Oil/Gas index, which depreciated by 0.04% and NSE ASeM Index which closed flat.

The Financial Services industry, when measured by volume, led the activity chart with 2.035 billion shares valued at N18.592 billion traded in 18,876 deals; thus contributing 75.87% and 56.95% to the total equity turnover volume and value respectively.

The Conglomerates industry followed with 225.720 million shares worth N504.123 million in 1,217 deals.

The third place was Consumer Goods industry, with a turnover of 123.382 million shares worth N3.116 billion in 3,403 deals.

Fifty-one (51) equities appreciated in price during the week, higher than forty-four (44) equities in the previous week. Twenty (20) equities depreciated in price, lower than twenty-four (24) equities in the previous week, while Ninety- two (92) equities remained unchanged, lower than Ninety-seven (97) equities recorded in the preceding week.

A total turnover of 2.683 billion shares worth N32.646 billion in 30,956 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 2.309 billion shares valued at N21.675 billion that exchanged hands last week in 14,906 deals.

Trading in the Top Three Equities namely, United Bank for Africa Plc, Zenith Bank Plc and Wapic Insurance Plc., when measured by volume, accounted for 934.661 million shares worth N10.925 billion in 7,194 deals, contributing 34.84% and 33.46% to the total equity turnover volume and value respectively.

Trading floor of the Nigerian Stock Exchange (NSE).

EXCHANGE TRADED PRODUCTS (ETPs)

A total of 15,390 units valued at N13.095 million were traded this week in 32 deals, compared with a total of 4,033 units valued at N4.233 million transacted last week in 26 deals.

BONDS

A total of 64,840 units of Federal Government Bonds valued at N71.362 million were traded this week in 30 deals, compared with a total of 204,300 units valued at N237.207 million transacted last week in 4 deals.

Still within this trading week, the entire issued share capital of A.G. Leventis were on Tuesday, 7 January 2020, delisted from the daily official list of the Nigerian Stock Exchange.

This follows the approval of the Company’s application to delist its entire issued share capital from The Exchange.

It should be recalled that the NSE had, in a market bulletin of 27 December 2019, notified the public of the full suspension placed on the shares of A.G. Leventis (Nigeria) Plc for the purpose of determining the shareholders that will qualify to receive the scheme consideration from the Scheme of Arrangement between A.G. Leventis and the holders of its fully paid ordinary shares of 50 Kobo each.

In a similar development, the entire 13,143,500,966 ordinary shares of Cement Company of Northern Nigeria Plc, CCNN, was delisted from the daily official list of the Nigerian Stock Exchange on Thursday, 9 January 2020, while the entire 33,864,354,060 ordinary shares of 50 kobo each of BUA Cement Plc, were listed on Thursday, 9 January 2020.

This follows the NSE’s announcement, in the Market Bulletin of 24 December 2019, of the suspension placed on the trading in the shares of CCNN, in furtherance to the Court’s Sanction of the Scheme of Merger between CCNN and OBU Cement, now BUA Cement Plc.

Consequently, The Exchange has in a circular announced that CCNN has been removed from the following Indices:

  •        NSE All Share Index
  •        NSE Main Board Index
  •        NSE 30 Index
  •        NSE Pension Index
  •        NSE AFR Div Yield Index
  •        NSE MERI Growth Index
  •        NSE Lotus Islamic Index
  •        NSE Industrial Goods Index

The statement reads “CCNN will be replaced in the same weight by BUA Cement Plc, with the trading Symbol BUACEMENT, as a constituent security in all the referenced index baskets.”

The Exchange assures that the periodic rebalancing of the NSE’s Indices will remain unchanged and not affected by this reconstitution.

Amaka E. Nliam

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