WEEKLY MARKET SUMMARY

By Babatunde Okunola - On

WEEKLY MARKET REPORT FOR THE WEEK ENDED FRIDAY, JANUARY 11TH, 2019

A total turnover of 1.265 billion shares worth N14.074 billion in 19,278 deals were traded last week (Monday, January 7th – Friday, January 11th, 2019) by investors on the floor of the Exchange in contrast to a total of 1.647 billion shares valued at N8.413 billion that were traded in the first week of January 2019 (Monday, December 31st, 2018 and Wednesday, January 2nd to Friday, January 4th, 2019) in 14,773 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.072 billion shares valued at N8.795 billion traded in 12,287 deals; thus contributing 84.73% and 62.49% to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 83.595 million shares worth N155.485 million in 750 deals. The third place was Consumer Goods Industry with a turnover of 50.537 million shares worth N3.432 billion in 2,576 deals. Trading in the Top Three Equities namely, Diamond Bank Plc, FBN Holdings Plc and Custodian Investment Plc (measured by volume) accounted for 465.000 million shares worth N2.044 billion in 2,448 deals, contributing 36.75% and 14.53% to the total equity turnover volume and value respectively.
ETPs
Also traded during the week were a total of 15,288 units of Exchange Traded Products (ETPs) valued at N236,445.40 executed in 4 deals compared with a total of 395 units valued at N816,344.70 that was transacted the previous week in 13 deals.
BONDS
A total of 17,996 units of Federal Government Bonds (FGN Bonds) valued at N18.426 million were traded during the week under review in 10 deals compared with a total of 7,209 units valued at N6.958 million transacted that were traded the previous week in 8 deals.
INDEX MOVEMENT

The NSE All-Share Index and Market Capitalization depreciated by 2.64% to close the week ended Friday, January 11th, 2019 at 29,830.70 and N11.124 trillion respectively.  Similarly, all other indices finished lower with the exception of the NSE Industrial Goods Index that rose by 1% while the NSE ASeM index closed flat.

FULL SUSPENSION OF TRADING IN THE SHARES OF GREAT NIGERIA INSURANCE PLC (GNI)

Further to the Market Bulletin of Thursday, December 13th, 2018 of the NSE, wherein the market was notified of the approval of The Nigerian Stock Exchange to the application for the voluntary delisting ofGreat Nigeria Insurance Plc (GNI) from the Daily Official list of The Exchange, Consequently, the shares of GNI were placed on full suspension on Wednesday, 9 January 2019. This suspension is required to prevent further trading in the shares of GNI.

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