Equity market gains N319bn in one week

The Nigerian equity market gained N319 billion last week, as 51 stocks appreciated.

The All-Share Index rose by 0.72 per cent to close at 98,210.75, while market capitalisation reached N59.534tn.

Trading activity saw 3.893bn shares worth N87.749bn traded in 43,868 deals, up from 3.194bn shares valued at N54.850bn in 45,112 deals the previous week.

The financial services sector led the activity chart, with 2.709 billion shares valued at N51.027bn traded in 20,017 deals, accounting for 69.58 per cent of the total volume and 58.15 per cent of the total value.

The consumer goods sector followed with 403.658 million shares worth N3.844bn, while the industrial goods sector recorded 198.360m shares valued at N10.328bn.

FBN Holdings Plc, Wema Bank Plc and Fidelity Bank Plc were the most traded, with a combined 1.63 billion shares worth N28.982bn exchanged in 3,226 deals, representing 41.74 per cent of total volume and 33.03 per cent of the total value.

The overall market saw 51 stocks appreciate, an increase from 32 last week, while 30 stocks declined, down from 46.

The number of stocks that remained unchanged decreased to 72 from 75.

Learn Africa Plc led the price decliners, with an 11.75 per cent drop, followed by Aradel Holdings Plc, which lost 10.06 per cent.

eTranzact International Plc and Red Star Express Plc saw 10.00 per cent declines, while John Holt Plc and Daar Communications Plc dropped by 9.98 per cent and 6.56 per cent, respectively.

Golden Guinea Breweries Plc led the gainers with a 45.95 per cent increase, followed by Sunu Assurances Nigeria Plc at 29.49 per cent.

Lafarge Africa Plc gained 27.59 per cent, while Secure Electronic Technology Plc and Cornerstone Insurance Plc saw increases of 27.27 per cent and 25.00 per cent, respectively.

The Federal Government of Nigeria Savings Bonds for November 2024 were listed on the Nigerian Exchange Limited on December 6.

The bonds include the FGS NOV 2026 with a 17.440 per cent coupon rate and FGS NOV 2027 with an 18.440 per cent coupon rate.

A total of N760.189m worth of the 17.440 per cent bond was issued, with 760,189 units, while the 18.440 per cent bond saw an issuance of N2.423bn, with 2,423,629 units.

The bonds have a 2-year and 3-year tenor, with coupon payments scheduled quarterly.

Meanwhile, the global equity markets experienced a positive week, guided by stronger-than-expected US economic data.

The US non-farm payroll report showed an increase of 227,000 jobs in November, surpassing expectations.

The MSCI World equity index rose by 1.1 per cent week-on-week, reflecting global optimism, and contributing to a positive outlook for the Nigerian Exchange as well.

The PUNCH reports that the local bourse lost  N185bn in the previous week as the All-Share Index and market capitalisation dipped by 0.33 per cent and 0.31 per cent to 97,506.87 and N59.11tn, respectively.