The Nigerian equities market showed some signs of rebound after gaining a marginal 0.21 per cent for the week ended April 17, 2015.

The Nigerian Stock Exchange (NSE) weekly report showed that the NSE All-Share index increased slightly by 0.21 per cent to close at 35,005.05 basis points (bps).

Also, the market capitalisation climbed by the same margin to settle at N11.93 trillion.

This slight leap is riding on the back of clearer political climate helped by successful elections as well as modest Q1 results posted by most listed companies. 

Although the week, after the preceding week saw key indicators tilting southwards, was temporal as the market sprang up sooner than later denoting a gradual return of investor confidence to the market.   

However, analysts were of the view that the forthcoming week would see the market consolidating its gains as more companies post better results.

Other indices closed positive, the report stated, expecting NSE consumer goods and NSE Lotus ll indices that dipped 1.27 per cent and NSE Lotus II.

“Similarly, all the indices finished higher during the week with the exception of the NSE consumer goods and NSE Lotus II indices that shed 1.27 per cent and 2.00 per cent respectively. However, the NSE ASeM Index closed flat,” the report stated.

 At the end of the weekly transaction on the Nigerian bourse, a turnover of 1.92 billion shares worth N19.40 billion in 23,988 deals were traded by investors compared to a total of 3.51 billion shares valued at N25.20 billion that exchanged hands last week in 26,836 deals.

The NSE reported that the financial services industry (measured by volume) led the activity chart with 1.530 billion shares valued at N11.68 billion traded in 13,040 deals; thus contributing 79.71 percent and 60.21 per cent to the total equity turnover volume and value respectively.

Also, the conglomerates industry followed with a turnover of 156.808 million shares worth N1.589 billion in 1,695 deals. While in the third position is the consumer goods industry with 107.338 million shares worth N3.816 billion in 3,983 deals.

Volumes traded in the shares of insurer, Standard Alliance Insurance Plc, Lender United Bank for Africa Plc and FBN Holdings Plc collectively accounted for 667.216 million shares worth N2.543 billion in 4,444 deals contributing 35 percent and 13.11 percent to the total equity turnover volume and value respectively.

A summary of price changes in the review week on the Nigerian equities market shows that 46 equities appreciated in price during the week, higher than 25 of the past week.

Conversely, 28 equities depreciated in price, lower than 53 reported the preceding week, while 122 remained unchanged higher than 118 recorded last week. 

Source : Tribune