NSE ROUNDUP: Mixed fortunes trail Stock Market

The Nigerian Stock Exchange recorded mixed fortunes across key market indices this week as performance parameters variously took negative and positive directions.

The All Share Index (ASI) climbed by 0.52% to 26,991.42 basis points, up from the 26,851.68 recorded the week before. However, Market Capitalisation dipped by 0.34% to close at N13.027 trillion, compared to the N13.071 trillion posted last week.

This week, Trade Volume of 1.416 billion shares valued at N17.249 billion was reported in 20,303 deals, a steep fall from the 2.084 billion shares worth N33.867 billion traded in 21,849 deals last week.

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On the Activity Chart, the Financial Services Sector was the toast of investors as it led with 880.236 million shares estimated at N8.089 billion in 12,488 transactions. Put differently, the sector contributed as much as 62.15% to the entire trade volume and 46.90% to the total value of shares traded this week. Coming next was the Conglomerate Sector, where 283.854 million shares exchanged hands at the value of N1.587 billion in 841 deals. The Consumer Goods Sector traded 80.804 shares worth N2.349 billion in 2,871 deals to emerge third on the chart.

In terms of Index Movement, all the market indices appreciated save for the NSE Premium, NSE Banking, NSE-AFR Bank Value and NSE Industrial Goods, which fell by 0.49%, 0.86%, 0.28% and 2.25% in that order.

MAJOR DEVELOPMENTS

The share prices of three stocks were adjusted, preparatory to dividend payment. Airtel Africa was fixed at N298.80 from N308 for a dividend of N9.2 per unit. Global Spectrum Energy Services Limited had his share price adjusted to N4.65 from N4.70 for a dividend of N0.05. Equally, the Nigerian Breweries PLC was priced at N51.50 per share from N52 for N0.50 dividend per share.

Dangote Flour Mills was delisted from the daily official list of the exchange in consequence of its formal acquisition by Crown Flour Mills Limited by way of Scheme of Arrangement.

WAPIC Insurance Rights Issue of 15,613,194,623 ordinary shares of 50k each opened for subscription on Wednesday 20 November, 2019 on the basis of 7 new ordinary shares for every 6 held as of 19 September, 2019. Acceptance list would close on Tuesday 31 December, 2019.

In the same spirit, C& I Leasing announced its Rights Issue of 539,003,333 ordinary shares of 50k each at N6 per share based on 4 new ordinary shares for every 3 ordinary shares held at 4 September, 2019. Acceptance list opened on 18 November, 2019 while the closing date was fixed at 27 December, 2019.

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