Equity market advances further by 0.86% WoW

Trading activities on the floor of the Nigerian Stock Exchange last week closed on a positive note as the All-Share Index and Market Capitalisation both appreciated by 0.86% to close the week at 28,659.45 points and N14.980 trillion respectively.

An aggregate of 1.955 billion units of shares, valued at N22.978 billion in 22,844 deals were traded last week by investors on the floor of the Exchange, in contrast to a total of 3.140 billion shares valued at N35.372 billion that exchanged hands the previous week in 35,099 deals.

The Financial Services industry (measured by volume) led the activity chart with 1.648 billion shares valued at N18.824 billion traded in 13,050 deals; thus contributing 84.29% and 81.92% to the total equity turnover volume and value respectively. The Conglomerates industry followed with 99.313 million shares worth N87.823 million in 553 deals. The third place was the Consumer Goods, with a turnover of 60.570 million shares worth N991.189 million in 3,269 deals.

Trading in the top three equities namely United Bank for Africa Plc, Guaranty Trust Bank Plc and Zenith Bank Plc. (measured by volume) accounted for 885.515 million shares worth N15.881 billion in 6,308 deals, contributing 45.30% and 69.11% to the total equity turnover volume and value respectively.

All other indices finished higher with the exception of NSE Insurance which depreciated by 0.68% while the NSE ASeM Index closed flat.

Thirty-five (35) equities appreciated in price during the week, lower than Fifty-three (53) equities in the previous week. Twenty-three (23) equities depreciated in price, higher than Fourteen (14) equities in the previous week, while One hundred and four (104) equities remained unchanged, higher than ninety-six (96) recorded in the previous week.

SUNU ASSURANCES NIGERIA PLC

The investing public has been notified that following the special resolutions passed by the shareholders of Sunu Assurances Nigeria Plc at the Extra-Ordinary General Meeting held on 9 March 2020 in favour of the Company’s proposal to carry out a share capital reconstruction, Sunu Assurances Nigeria Plc through its stockbroker, FSDH Securities Limited, has submitted an application for the share capital reconstruction to The Nigerian Stock Exchange.

The share capital reconstruction will result in the cancellation of four (4) existing ordinary shares out of every five (5) ordinary shares of Sunu Assurances Nigeria Plc held by its existing shareholders. The total number of issued ordinary shares post the capital reconstruction exercise will be Two Billion, Eight Hundred Million (2,800,000,000) ordinary shares of N0.50 each while a total of Eleven Billion, Two Hundred Million (11,200,000,000) ordinary shares of N0.50 each will become cancelled and unissued. The Qualification Date for the capital reconstruction is Friday, 16 October 2020 while trading in the Company’s shares will be placed on suspension effective Monday, 19 October 2020.

ANINO INTERNATIONAL PLC

The entire issued share capital of Anino International Plc was delisted from the daily official list of the Nigerian Stock Exchange on the 12th of October 2020. The delisting of Anino was approved by the National Council of the Exchange on Thursday, 30 April 2020 in line with the Exchange’s regulatory delisting process as a result of persistent non-compliance with the Exchange’s post listing rules.

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