By Richard ABANGWU InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) All-Share Index (ASI) Friday declined by 2.3 percent (2.3%) to close the week Friday April 12 2013.
INVESTMENT ONE Financial Services Limited Research reported that Index was down 2.30%, as investor pushed the panic button on the back of corporate action disappointment.
According to the Report, Index retreat further away from the year high, currently trading at a discount of 3.09%.
The INVESTMENT ONE Research says although the Bears have been in control for the past three consecutive (3) days, the results of Friday’s activities signify a possible rebound from the 3-day correction.
“Bargain hunters and “bottom fishing†investors re-appeared on the scene to take advantage of lower prices and better valuations. The ASI made a 0.14% comeback into the green for the day but remained at a 0.07% loss for WtD performance†the Report said.
It says Year-to-date performance now stands at 19.36%. The NSEASI settled at 33,514.14pts with Market Capitalisation at N10.71trn.
Similarly, the Stock Market Report for April 12 2013, the NSE says All-Share Index declined by 787.23 points at 33,514.14.
Also, the NSE 30 Index depreciated by 38.53 points or 2.35% to close at 1,600.12.
Other NSE sectoral indices that depreciated during the week include; NSE Consumer Goods, NSE Banking, NSE Oil and Gas, NSE-Lotus II and NSE Industrial Goods by 0.19%, 5.36%, 1.40%, 0.13% and 1.12% respectively. However, NSE Insurance appreciated by 3.86%.
20 Equities appreciated in prices during the week lower than 45 Equities the preceding week. 59 Equities depreciated in price higher than 35 the previous week, while 117 Equities remained constant the same with 117 recorded the preceding week.
The NSE’s Report says a Turnover of 2.191 billion shares worth of N24.942 billion in 33,100 deals were transacted this week on the floor of The Exchange compared to a total of 1.604 billion shares valued at N19.088 billion that exchanged hands last week in 26,264 deals.
According to the NSE’s Report, at the close of trading activities for the week, the Financial Services sector (measured by turnover volume) accounted for 1.599 billion shares valued at N15.013 billion exchanged hands by investors in 20,976 deals. While the Information and Communication Technology (ICT) sector followed in the activity chart with 167.324 million shares valued at N357.174 million traded in 47 deals.
Click to download INVESTMENT ONE FINANCIAL MARKET REPORT 12/04/2013
Click to download INVESTMENT ONE FINANCIAL MARKET REPORT 12/04/2013
Click to download Nigerian Stock Exchange Stock Market Report 12/04/2013