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Tuesday, November 21, 2017.

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Nigerian News » Politics

Zenith Bank, Champion Breweries drive equity volume

HEAVY transactions recorded last week on the shares of Zenith International Bank Plc, Champion Breweries Plc and Diamond Bank Plc  drove the volume traded on the Nigerian Stock Exchange, NSE.

Trading statistics made available at the end of the week showed that the three companies accounted for 252.189 million shares out of 990.584 million units traded by investors, thus representing 25.46 per cent of the total volume.

Also, of the N18.823 billion transaction value recorded during the week, the companies netted N1.81 billion, representing 9.68 per cent of the total value.

The financial services industry led activity in terms of volume, accounting for 664.647 million shares valued at N3.896 billion in 8,056 deals; thus contributing 67.10 per cent and 20.70 per cent to the total equity turnover volume and value respectively. This was followed by the consumer goods industry with 133.641 million shares worth N2.602 billion in 2,653 deals, while the conglomerate sector placed third  with a turnover of 63.189 million shares worth N88.834 million in 635 deals.

Oil and gas sector

The NSE All-Share Index, ASI, and market capitalization appreciated by 0.40 per cent to close the week at 26,328.22 and N9.059 trillion respectively. Similarly, all other indices finished higher during the week with the exception of the NSE Premium Index that depreciated by 0.13 per cent, while the NSE ASem Index closed flat.

The oil and gas sector recorded the highest return of 3.79 per cent on account of positive movement on Oando Plc and Forte Oil, which rose by 12.47 per cent and 8.09 per cent respectively. The industrial goods sector delivered 0.47 per cent return to investors, while the consumer goods sector, the banking sector and insurance sector returned 0.07 per cent, 0.11 per cent and 0.02 per cent respectively.

29 equities appreciated in price during the week, in contrast to 30 equities depreciated in price with Unity Bank Plc leading the gainers by 15.63 per cent to close at N0.74. Oando Plc followed with 12.47 per cent increase to close at N5.14; Stanbic IBTC Holdings Plc went up by 8.57 per cent to close at N17.48 after it announced Board changes at the weekend.

Champion Breweries Plc, Forte Oil Plc and Wema Bank Plc appreciated by 8.26 per cent, 8.09 per cent and and N7.84 per cent to close at N2.49, N71.88 and N0.55 per share in that order.

On the other hand, Honeywell Flour Mills Plc led on the losers chart, depreciating by 11.29 per cent to close at N1.10, followed by MRS Oil Nigeria Plc with 9.74 per cent to close at N39.03, while Sterling Bank Plc closed as the third on the losers’ table, dropping by 8.75 per cent to close at N0.73 per share.
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