The Nigerian Stock market opened for four trading days this week with the exception of Wednesday being public holiday observed in celebration of New Year’s Day 2020.
The Nigerian bourse posted positive results across its Key Performance Indicators this week, triggered by bargain hunting activities and rise in investors’ appetite for blue-chip equities. The bull maintained a firm grip on the market all week long as all the performance parameters witnessed consecutive increase Monday through Friday.
The All Share Index (ASI) grew by 2.09% to 26,968.79 basis points from the 26,416.48 recorded last week. Market Capitalisation equally gained 2.09% from the N12.753 trillion posted last week to close at N13.019 trillion. The market recorded a positive market breadth with 44 stocks appreciating as against 24 losers while 97 stocks remained unchanged
Trade Volume of 2.309 billion shares worth N21.675 billion was recorded in 14,906 deals this week compared to the 735.702 million shares valued at N7.132 billion posted in 7,138 deals last week.
On the Activity Chart, the Financial Services sector dominated trade with 1.924 billion shares estimated at N10.148 billion traded in 9,287 transactions. In other words, it contributed 83.31% and 46.82% to the total equity turnover volume and value respectively. Coming next was the Conglomerates sector, which traded 188.538 million shares worth N284.531 million in 530 deals. The Industrial Goods came third, trading 56.007 million shares priced at N4.793 billion in 1,304 deals.
Regarding Index Movement, all indices appreciated save for the NSE ASeM Index, which closed flat.
Vitafoam Nigeria Plc declared a dividend of 42 kobo per share in view of its impressive Full Year 2019 financial results, which saw a leap of nearly 300% in after-tax profit. The resolution is subject to shareholders’ approval at the firm’s next Annual General Meeting (AGM) to be held on 4th March 2020.
Shareholders whose names appear on the company’s register of members at the Close of Business (COB) on 7th February 2020 will be eligible for the proposed dividend payout. The register of members will be closed on 14th February 2020, preparatory to the dividend payment date on 5th March 2020.
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