ABDULKADIR UMORU.
The public holiday on Tuesday, 1st January 2019 to mark the New Year celebrations shortened trading days on the Nigerian Stock Market to four days from the usual five in a week.
During the week under review, activities on the floor of The Nigerian Stock Exchange(NSE) ended on both negative and positive notes. While the All-Share Index (ASI) depreciated by 1.28 per cent to close the week at 30, 638.90, the market capitalisation appreciated by 0.78 per cent to close at N11.426 trillion week-on-week.
In all, a total turnover of 1.647 billion shares worth N8.413 billion in 14,773 deals were traded last week by investors compared with a total of 3.129 billion shares valued at N14.348 billion that exchanged hands in the previous week in 10, 394 deals.
The financial services sector (measured by volume) led the activity chart with 1.184 billion shares worth N5.742 billion traded in 9,174 deals; thus contributing 70.08 per cent and 68.25 per cent to the total equity turnover volume and value respectively.
The Healthcare Industry followed with 271.277 million shares valued at N82.647 million in 219 deals whereas the turnover of Services Industry stood at 91.734 million shares worth N208.563 million in 232 deals.
Similarly, trading in the top three equities namely: Diamond Bank, Union Diagnostic & Clinical Services and NEM Insurance (measured by volume) accounted for 816.016 million shares valued at N1.305 billion in 1,615 deals, contributing 49.54 per cent and 15.51 per cent to the total equity turnover volume and value correspondingly.
Also, during the week under consideration, all other indices finished lower with the exception of the NSE Oil and Gas index that rose by 2.91 per cent.
Equally, 22 equities appreciated in price during the week; lower than 52 of the previous week, 45 equities depreciated in price, higher than 18 equities of the preceding week while 97 equities remained unchanged higher than 94s equities recorded in the earlier week.
Traded also during the week were a total of 395 units of exchange Traded Products (ETPs) worth N816, 344.70 executed in 13 deals compared with a total of 25, 500 units valued at N1.782 million that was transacted last week in 15 deals.
A total of 7, 209 units of Federal Government Bonds valued at N6.958 million were traded last week in 8 deals compared with a total of 686 units worth N689, 162.04 transacted the preceding the week in 3 deals.
In the week under review, Continental Reinsurance Plc (CRe) through its stockbroker, Chapel Hill Denham Securities requested for full suspension on the trading on its shares on The Exchange to determine the shareholders that will qualify to receive the scheme consideration following the resolutions passed by the shareholders of CRe at the Court Ordered Meeting held on 20 December 2018 in favour of the proposal by CRe African Investments Limited to acquire all the outstanding and issued shares of CRe for cash or shares.
Cement Company of Northern Nigeria (CCNN) listed 11, 886, 823,200 supplementary ordinary shares on 31stDecember, 2018 on the Daily Official List of The Exchange. The additional shares of 11, 886, 823, 200 ordinary shares of 50 kobo per share are the Scheme’s shares arising from the scheme of merger between CCNN and Kalambaina Cement Company limited
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