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Equities: Zenith Bank Emerges Most Active Stock

Zenith Bank
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In the second trading week for the year, Zenith Bank emerged the most active stock for the second day running (January 12 and 13) with 20.3 million units of its shares worth N517.7 million traded in 337 deals. This was followed by other stocks in the Financial Services sector – GTCO, whose shares numbering 18.2 million and priced at N449.9 million exchanged hands in 363 transactions.

UBA had 17.1 million shares valued at N144.4 million traded in 268 deals. Sterling Bank traded 15.8 million shares estimated at N24.3 million in 93 transactions and Transcorp traded 11.7 million shares valued at N14.1 million in 76 deals.

Nigerian stocks jumped for the third straight trading session on Friday as investors bet more on shares, pushing the benchmark index close to its peak level since 20th July and up by 0.9 per cent compared to the previous session.

The climb pivoted around investors’ interest in the shares of MTN Nigeria and a couple of bank stocks, with the number of advancing stocks trebling that of decliners.

Transaction volume improved by 3 per cent, while turnover depleted by as much as 67 per cent.

Market breadth, which measures the extent of investors’ sentiment towards trade, was positive as 36 gainers were reported compared to 12 losers.

The all-share index increased 463.6 basis points to 52,512.5, while market capitalisation increased to N28.6 trillion.

Year to date, the index is up 2.5 per cent.

Total was the most profitable stock, appreciating by 10 per cent to N212.3. Berger Paints went up by 10 per cent to N6.60. Linkage Assurance rose to N0.44, notching up 10 per cent. Thomas Wyatt added 9.6 per cent to end the trade at N1.48 while Prestige completed the top 5, climbing by 9.52 per cent to N0.46.

Lasaco was the worst-performing stock, dropping 10 per cent to close at N0.99. CWG shed 9.52 per cent to close at N0.95. Linkage Assurance fell to N0.44, losing 10 per cent. Chellarams slumped to N1.34, recording 9.5 per cent depreciation while Royal Exchange closed at N0.91, going down by 7.14 per cent

Altogether, 217.2 million shares estimated at N2.6 billion were traded in 4,591 deals.

In its weekly report, the Nigerian Exchange (NGX) Limited said a total turnover of 1.286 billion shares worth N29.634 billion in 19,816 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 921.856 million shares valued at N27.154 billion that exchanged hands last week in 15,601 deals.

The Financial Services Industry (measured by volume) led the activity chart with 952.237 million shares valued at N9.728 billion traded in 9,647 deals; thus contributing 74.07% and 32.83% to the total equity turnover volume and value respectively. The Industrial Goods

Industry followed with 92.864 million shares worth N8.510 billion in 1,682 deals.

The third place was the Conglomerates Industry, with a turnover of 54.568 million shares worth N96.654 million in 754 deals.

Trading in the top three equities namely FBN Holdings Plc, Sterling Bank Plc, and Guaranty Trust Holding Company Plc (measured by volume) accounted for 507.852 million shares worth N5.707 billion in 2,585 deals, contributing 39.50% and 19.26% to the total equity turnover volume and value respectively.

The NGX All-Share Index and Market Capitalization appreciated by 2.52% to close the week at 52,512.48 and N28.602 trillion respectively. Similarly, all other indices finished higher with the exception of NGX Insurance and NGX

Growth indices which depreciated by 1.64% and 4.40% respectively, while the NGX ASeMand NGX Sovereign Bond indices closed flat.