nse

NSE transacts shares worth N56.64bn in February -Statistics

Lagos  –   Investors on the Nigerian Stock Exchange (NSE) traded a turnover of 12.64 billion shares worth N58.64 billion in 62,016 deals in February.

Statistics released by the NSE on Thursday in Lagos indicated that the performance was up from 5.67 billion shares valued at N42.05 billion achieved in 67,479 deals in January.

The News Agency of Nigeria (NAN) reports that the data also showed that the turnover of shares traded inched by 122.93 per cent.

A further breakdown of the statistics indicated that the Financial Services sector emerged the most active, accounting for 7.16 billion shares valued at N58.64 billion, transacted in 62,016 deals.

The Consumer Goods sector came second on the month’s activity chart with an exchange of 3.47 billion shares worth N12.46 billion traded in 10,703 deals.

NAN reports that the market indices appreciated by 2.75 per cent against a loss of 16.50 per cent posted in January.

According to the data, the market capitalisation rose by N227 billion to close at N8.452 trillion as against N8.225 trillion achieved in January.

The NSE All-Share Index appreciated by 654.58 points or 2.75 per cent to close at 24.570.75 from 23,916.15 recorded in January due to price gain by some highly capitalised equities.

NAN also reports that Seplat recorded the highest gain during the month by 79.67 per cent or N154.75 to close at N349 per share against N194.25 achieved in January.

Related Story:  Assembly authorises Enugu govt to secure N30bn bond

Conversely, Con Oil dropped in percentage terms by 29.55 per cent or N7.31 to close at N17.43 against the opening price of N24.74.

It (Con Oil) was trailed by Oando with a loss of 25.75 per cent or N1.03 to close at N2.97 when compared with N4 in January.

Commenting on the performances, the Managing Director, APT Securities and Funds Ltd., Malam Garba Kurfi, told NAN that the growth was due to improved audited results released by some quoted companies.

Kurfi said that investors’ anticipation of higher dividends for the financial year ended Dec. 31, 2015, contributed to the growth.

He said that the financial reports released in March would determine the market performance.

[pro_ad_display_adzone id=”70560″]

Kurfi said that the volume of shares traded would reduce due to developments at the Foreign Exchange Market.

“Being in the earnings season, future direction of the market will be determined by how impressive full year results of quoted companies are,’’ Kurfi told NAN.

The National Coordinator, Independent Shareholders Association of Nigeria (ISAN), Mr Sunny Nwosu, said the growth was not very impressive due to the challenges in the country.

Nwosu said the market was a reflection of the economy, adding that government should come out with a clear economic blueprint to boost investors’ confidence. (NAN)

MTN News Alert
DMON
To receive our mobile newspaper on MTN delivered on your phone, text SAWD to 4900 at N50 per week or SAMD to 4900 at N150 per month.
For information on press releases, photos, promotional events and adverts, call or send text to 08173460599 or 08094208271or send email to: info@sundiatapost.com

Leave a Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

*

Sundiata Post Media Ltd.

Address: 3rd Floor Office Suite, Bayelsa State Guest House, Plot 1038, Shehu Shagari Way, Maitama, Abuja, Nigeria.
Tel: +234(0)92900705, +234(0)8173460599
Whatsapp: +234(0)8053069436
BBM PIN: 5619150D
Email: info@sundiatapost.com
Website: www.sundiatapost.com

Enugu Regional Office: SW 1 New Haven Shopping Mall, Enugu, Enugu State, Nigeria.
Tel: +234(0)7062582838
https://twitter.com/sundiatapost/

London Office: 18 Belgrave Avenue, Wd18 7UE, Watford, United Kingdom.
Tel: +447417554143
Dubai Office: PAU Management Suite, Level 23 - Boulevard Plaza Tower 2, Emaar Boulevard,
P. O. Box 124342, Dubai, UAE.
Tel: +971 4 4096849 | Fax: +971 4 409 6850
About Us

SundiataPost is published by Sundiata Post Media Limited, Sundiata Post is Nigeria’s most authoritative online newspaper and ranks among the top five online news platforms in Nigeria.

Guild of Corporate online publishers
ACCREDITED MEMBER
A Glance at Our Advert Rate.

Inside Pages

Size In Pixels - Amount

120×180 - N27,967.50

300×100 - N24,695

Text Link - N11,275

More Details info

About Us | Contact Us | Privacy Policy | Terms of Use | Advert Rate