By Richard ABANGWU InvestAdvocate

Lagos (INVESTADVOCATE)-The Equities Market of Nigerian Stock Exchange (NSE) Friday closed on a negative note as the NSE’s All-Share Index depreciated by 334.09 points or  -1.01 percent (-1.01%) to close on Friday at 32,849.11.

Weekly Reports from the Nigerian Bourse made available to InvestAdvocate said the Market Capitalisation of the Main Board Equities depreciated from N10.618 trillion to N10.512 trillion.

The -1.01% decline shows that the Equities Market Year-to-Date (YTD) return currently stands at 16.99%.

In the same vein, the Bloomberg NSE 30 Index depreciated by 12.80 points or 0.81% to close at 1,572.76.

However, the Report says three of the sectoral indices appreciated during the week compared to two during the preceding week.

Also, the Bloomberg NSE Banking Index appreciated by 2.58 points or 0.63% to close at 414.67. Similarly, the Bloomberg NSE Insurance Index appreciated by 4.56 points or 3.07% to close at 152.86.

On its part, the Bloomberg NSE Oil/Gas Index appreciated by 3.81 points or 1.99% to close at 194.94. But the Bloomberg NSE Consumer Goods Index depreciated by 14.64 points or 1.51% to close at 954.49. Also, the NSE Lotus II depreciated by 54.61 points or 2.55% to close at 2,090.74

Analysts say the depreciation in the Index this week is as a result of the loss recorded in the share prices of Guinness Nigeria Plc, Dangote Cement Plc, Stanbic IBTC Plc, Mobile Nigeria Plc, Total Nigeria Plc and Cadbury Nigeria Plc.

A review of the NSE’s equity price movements indicated that 36 Equities gained while 44 recorded price declines and 117 Equities remained constant. “When compared with the preceding week, 38 Equities gained while 46 recorded price declines and 113 Equities remained constant” the NSE’s Report said.

The Nigerian Market reported a Turnover of 175.873 million units valued at N222.843 billion in 849 deals recorded this week compared to 219.021 million units worth N273.305 billion in 1,158 deals recorded in the preceding week ended March 1st, 2013.

Also included in the transactions for the week were 2,536 units of FGN Bonds valued at N3.096 million traded during the week in 26 deals in contrast to 1,887 units valued at N2.314 million transacted last week in 20 deals. Likewise, 1,000 units of Lagos State Fixed Rate Redeemable Bond valued at N1, 000,000 was traded in 1 deal. There were no transactions in the Corporate Bonds/Debentures sector.

On its part, Analysts at INVESTMENT ONE Financial Services Limited affirms that the NSEASI, continues as forerunner maintaining its edge over other key global indices in terms of returns.

The Analysts say YTD performance of 15.66% brings ranking of the local bourse to 7th position in the basket of 94 global indices tracked by Bloomberg.

According to the INVESTMENT ONE Report, the Bear’s regained control this week. The Heavy weights (DANGCEM and UNILEVER) provided the thrust to the index.

“Index currently trades at premium of 3.18% from its YTD High and 52 week High” the INVESTMENT ONE Report said.

Click here to download NSE’s Weekly Report for March 08 2013

Click here to download INVESTMENT ONE’s Financial Market Report for March 08 2013