Unity Kapital Assurance, GTBank, others lift NSE’s turnover by N24.2b

…Avon Crowncap, Paints and Coatings shares to be delisted from Exchange

Heavy transactions in the shares of some stocks, especially Unity Kapital Assurance, and Guaranty Trust Bank, last week lifted the volume of shares traded, as a total turnover of 1.538 billion shares worth N24.218billion was recorded in 19,187 deals.

This volume of shares traded, was however, higher than a total of 1.394 billion units valued at N25.037billion that changed hands in 23,133 deals during the preceding week.

Last week, the financial services industry led the activity chart with 1.209 billion shares valued at N14.210billion traded in 10,692 deals; thus contributing 78.65 per cent to total equity turnover volume. The agriculture industry followed with 109.646 million shares worth N154.438million in 321 deals.

The third place was occupied by consumer goods industry with a turnover of 83.608 million shares worth N6.247billion in 3,726 deals. Trading in the top three equities namely – Unity Kapital Assurance Plc, Guaranty Trust Bank Plc, and AIICO Insurance Plc, accounted for 579.065 million shares worth N7.900 billion in 1,856 deals, contributing 37.66 per cent to total equity turnover volume.

Also traded during the week were a total of 390 units of Exchange Traded Products (ETPs) valued at N6,511.60 executed in 5 deals compared with a total of 5,168 units valued at N65,570.28 transacted last week in eight deals.

A total of 3,657 units of Federal Government Bonds valued at over N2.866million were traded this week in nine deals, compared with a total of 987 units valued at N986,951.99 transacted last week in one deal.

The Nigerian Stock Exchange (NSE) All-Share Index and market capitalisation depreciated by 0.74 per cent to close the week at 36,646.46 and N12.631trillion respectively.

Similarly, all other indices finished lower during the week with the exception of the NSE Main Board, NSE Banking and NSE Consumer Goods indices appreciated by 1.34 per cent, 0.31 per cent and respectively.

About 32 equities appreciated in price during the week, higher than 19 equities of the previous week, while 40 equities depreciated in price, lower than 51 equities of the previous week. Also, 99 equities remained unchanged lower than 101 equities recorded in the preceding week.

Meanwhile, Coatings Manufacturers Nigeria Plc, through its Stockbroker, Meristem Securities Limited, submitted an application for a Scheme of Arrangement between the Company and holders of its fully paid up ordinary shares of 50k each.

According to the NSE, the scheme will lead to the delisting of the entire shares of Paints and Coatings Manufacturers Nigeria Plc from the daily official list of the Exchange.

Also, Avon Crowncaps & Containers (Nig.) Plc through its Stockbroker; Integrated Trust & Investments Limited, submitted an application for a scheme of arrangement between the company and holders of its fully paid up ordinary shares of 50k each. The scheme will also lead to the delisting of the entire shares of Avon Crowncaps & Containers (Nig.) Plc from the daily official list of the Exchange.

Morison Industries Plc through its Stockbroker; GTI Securities Limited, submitted an application to the NSE for approval and listing of a rights issue of 836,983,125 ordinary shares of 50 Kobo each at 60 Kobo per share. They will be sold on the basis of 11 new Ordinary Shares for every two Ordinary Shares of 50 Kobo held. The qualification date for the rights issue was, 25 August 2017.