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Investors stake N22.8b in equities in one week

Nigeria Stock Exchange, Lagos


Volume of shares recorded on the Nigerian Stock Exchange (NSE), increased significantly last week, as a total turnover of 2.182 billion shares worth N22.795billion was recorded by investors in 17,019 deals, higher than 2.804 billion units valued at N54.776billion that changed hands in 17,792 deals during the preceding week.

Last week, the financial services industry (measured by volume) led the activity chart with 1.755 billion shares valued at N11.571billion traded in 8,730 deals; thus contributing 80.44 per cent to the total equity turnover volume.

The consumer goods industry followed with 178.154 million shares worth N8.655 billion in 4,457 deals. The services industry ranked third with a turnover of 143.821 million shares worth N92.479million in 470 deals.

Trading in the top three equities namely – Wapic Insurance Plc, Zenith International Bank Plc, and United Bank for Africa Plc (measured by volume) accounted for 973.088 million shares worth N5.854billion in 2,493 deals, contributing 44.59 per cent to the total equity turnover volume.

Also traded during the week were a total of 127 units of Exchange Traded Products (ETPs) valued at N13,837.30 executed in five deals, meanwhile there were no trades recorded last week.

Also traded during the week were a total of 127 units of Exchange Traded Products (ETPs) valued at N13,837.30 executed in 5 deals meanwhile there were no trades recorded last week.

The NSE All-share index, and market capitalisation appreciated by 1.80 per cent and 1.84 per cent to close the week at 37,365.91, and N13.009trillion respectively.

Similarly, all other indices finished higher during the week with the exception of the NSE Oil/Gas Index, which depreciated by 1.45 per cent, while the NSE ASeM Index closed flat.

About 36 equities appreciated in price during the week, higher than 20 the previous week, while 24 equities depreciated in price, lower than 43 equities last week. Also, 111 equities remained unchanged higher than 108 equities recorded in the preceding week.Meanwhile, additional units of 85,261,220 ordinary shares of Lafarge Africa Plc were listed on the Daily Official List of the exchange on Wednesday, November 22.

According to NSE, the shares listed were issued to shareholders of AshakaCem Plc in exchange for their shares pursuant to a scheme of arrangement for capital re-organisation between AshakaCem, and holders of its fully paid ordinary shares of 50k each dated September 26.

It explained that with this additional listing of 85,261,220 ordinary shares, the total issued and fully paid up shares of Large Africa has now increased from 5,490,513,997 to 5,575,775,217 ordinary shares.

NSE added: “Dealing members are hereby notified that the rights issue of Lafarge Africa Plc of 3,097,653,023 ordinary shares of 50 Kobo each at the offer price of N42.50 per share, on the basis of five new ordinary shares for every nine ordinary shares held as at 01 November 2017. It will be opened for subscription as shown: acceptance list opens Friday, November 24, 2017, acceptance list closes Friday, December 15, 2017. Trading in the rights of Lafarge Africa Plc will commence on Monday, 27 November 2017. This is due to the company’s delay in communicating the Securities and Exchange Commission (SEC) approval to the Exchange for the creation of code.”

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