By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) All-Share Index (ASI) dipped by 5.58 percent (5.58%) to close the week at 37,249.93.
Weekly report from the NSE and made available to InvestAdvocate shows that all the NSE indices depreciated during the week: NSE Consumer Goods (7.05%), NSE Banking (7.23%), NSE Insurance (2.87%), NSE Oil/Gas (5.82%), NSE-Lotus II (7.21%), NSE Industrial Goods (6.59%) and NSE-ASeM (1.24%). Similarly, the NSE 30 Index depreciated by 5.86% to close at 1,779.74.
Analysts at Investment Research firm, Afrinvest Limited in its weekly market update equities affirmed that the loss of 585 basis points (BPs) this week was due to participants attempt to lock-in gains.
Afrinvest report affirm that top gainers this week however were mainly fringe players; Academy (40%), Paintcom (32.1%), Neimeth (32%), Berger (20.3%),Vitafoam (16.5%).
While Invvestment One Financial Services Research in its financial market report said trading in week 2 of the month of June ended on a negative note with the NSE ASI sliding 5.85%. “This weighed down the month-to-date and year-to-date performance to -1.44% and 32.67% respectively.†The report said.
Also, the market capitalisation of the listed equities on the main board of the Nigerian Bourse declined by 5.33% to close at N11.967 trillion.
A summary of price changes for the review period according to the NSE’s weekly report, 34 equities appreciated in prices during the week lower than 58 of the preceding week.
52 equities depreciated in prices higher than 26 of the preceding week, while 107 equities remained constant lower than 109 of the preceding week.
A turnover of 3.725 billion shares worth of N75.874 billion in 39,060 deals were traded this week by investors on the floor of Nigerian Bourse compared to a total of 1.917 billion shares valued at N25.133 billion that exchanged hands last week in 32,368 deals.
The NSE’s report shows that the Financial Services sector (measured by volume) led the activity chart with a turnover of 1.702 billion shares valued at N14.698 billion traded in 19,826 deals; representing 45.68%, 19.37% and 50.76% of the total traded volume, value and deals respectively.
The Conglomerates sector followed with a turnover volume of 597.153 million shares worth N1.052 billion in 1,410 deals contributing 16.03%, 1.39% and 3.61% of the total equity turnover volume, value and deals respectively. The ICT sector came third with a turnover volume of 516.087 million shares worth N1.007 billion in 264 deals.
According to the report, trading in the top three equities namely Transnational Corporation of Nigeria Plc, IHS Plc and Dangote Cement Plc (measured by turnover volume) accounted for 1.348 billion shares worth N48.722 billion in 1,692 deals contributing 36.19%, 64.22% and 4.33% to the total equity turnover volume, value and deals respectively.
Click to download NSE’s weekly report for June 14 2013
Click to download Afrinvest weekly market update for June 14 2013
Click to download Investment One financial market report for June 14 2013