The Nigerian equity market last week closed on a negative not as profit taking persist, bringing the All Share Index down by 0.08% to close at 25,572.57. The Market Capitalisation appreciated by 0.10% to close the week at N13.365 trillion. The listing of additional 601,030,210 ordinary shares of Stanbic IBTC Holdings on NSE brought about the increase in the Market Capitalisation, or else it would have declined.
An aggregate of 1.139 billion units of shares, valued at N12.692 billion in 17,109 deals were traded last week by investors on the floor of the Exchange, in contrast to a total of 1.226 billion shares valued at N10.842 billion that exchanged hands last week in 19,529 deals.
The Financial Services industry (measured by volume) led the activity chart with 870.300 million shares valued at N7.863 billion traded in 9,427 deals; thus contributing 76.43% and 61.95% to the total equity turnover volume and value respectively. The Industrial Goods industry followed with 62.689 million shares worth N1.162 billion in 1,557 deals. The third place was the ICT industry, with a turnover of 50.859 million shares worth N2.552 billion in 619 deals.
Trading in the top three equities namely FBN Holdings Plc, Guaranty Trust Bank Plc and Access Bank Plc. (measured by volume) accounted for 353.048 million shares worth N4.018 billion in 3,095 deals, contributing 31.00% and 31.66% to the total equity turnover volume and value respectively.
All other indices finished lower with the exception of NSE Main Board, NSE Pension, NSE Insurance, NSE Meri Growth, NSE Consumer Goods, NSE Lotus II and NSE Industrial Goods Index which appreciated by 0.13%, 0.06%, 0.01%, 0.17%, 0.13%, 0.19% and 0.50% respectively while NSE ASeM Index closed flat. (See summary of Index movements in the table below).
Thirty-two (32) equities appreciated in price during the week, higher than Twenty-three (23) equities in the previous week. Thirty-one (31) equities depreciated in price, lower than Thirty-eight (38) equities in the previous week, while one hundred (100) equities remained unchanged, lower than one hundred and two (102) equities recorded in the previous week.
Stanbic IBTC
A total volume of 601,030,210 ordinary shares of Stanbic IBTC Holdings Plc was admitted to trade at the Nigerian Stock Exchange on Wednesday, 16 September 2020.
Prestige Assurance Plc
Prestige Assurance has announced the extension of offer period for the rights issue of 13,635,796,006 ordinary shares of 50 kobo each at 50 kobo per share on the basis of thirty-eight (38) new ordinary shares for fifteen (15) ordinary shares held.
The Nigerian Stock Exchange has received a confirmation from the Securities and Exchange Commission to extend the offer period by two (2) weeks. With this extension, the Offer which was initially scheduled to close on Thursday, 17 September 2020 will now close on Wednesday, 30 September 2020.