By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-United Bank for Africa Plc, (UBA), Transnational Corporation of Nigeria Plc (Transcorp) and Portland Paints & Products Nigeria Plc contributed 15.90 percent (15.90%) value to the Nigerian Bourse to end the week June 28 2013.
According to the Nigerian Stock Exchange (NSE) weekly report for the review period, trading in the top three (3) equities (measured by turnover volume) accounted for 940.729 million shares worth N3.854 billion in 2,668 deals contributing 38.30%, 15.90% and 7.99% to the total equity turnover volume, value and deals respectively.
A review of the sector that performed well include the financial services sector (measured by volume) led the activity chart with a turnover of 1.434 billion shares valued at N14.740 billion traded in 19,063 deals.
“The Financial Services sector represented 58.39%, 60.83% and 57.07% of the total traded volume, value and deals respectively,†the NSE report said.
This is followed by the conglomerates sector with a turnover volume of 453.830 million shares worth N806.109 million in 1,242 deals contributing 18.48%, 3.33% and 3.72% of the total equity turnover volume, value and deals respectively.
While the Industrial Goods sector came third with a turnover volume of 235.872 million shares worth N2.160 billion in 1,539 deals.
Generally, the Nigerian Bourse reported a turnover of 2.456 billion shares worth of N24.230 billion in 33,402 deals traded this week by investors compared to a total of 1.631 billion shares valued at N21.680 billion that exchanged hands last week in 30,952 deals.
The NSE All-Share Index NSE (ASI) depreciated by 0.82% to close on at 36,164.31, while the market capitalisation of the listed equities on its main board declined by 2.46% to close at N11.426 trillion.
Also, the NSE 30 Index sheds 2.43% to close at 1,701.93, during the week, all the NSE indices depreciated: NSE Consumer Goods (1.38%), NSE Banking (2.28%), NSE Insurance (3.96%), NSE Oil/Gas (3.65%), NSE-Lotus II (3.60%), NSE Industrial Goods (5.60%) and NSE-ASeM (0.05%).
On the summary of price changes, 35 equities appreciated in prices during the week higher than thirty 32 equities of the preceding week. 47 equities depreciated in prices lower than 49 equities of the preceding week, while 111 equities remained constant lower than 112 of the preceding week.
From Afrinvest stock market weekly summary, reports that top gainers for the week were May and Baker (18.1%), Presco (10.6%), Wema Bank (9.9%), DN Meyer (9.8%) and Ikeja Hotel (9.7%).
According to the Afrinvest Analysts, initial apathy for banking stocks early in the week and selling pressure led to more losses than gains this week. GT Bank, Zenith Bank and UBA dropped over 2.0%, while Fidelity Bank, Diamond Bank and Stanbic IBTC were not spared either.
“On the other hand FBN Holdings, Skye Bank and Access Bank recorded gains of 3.4%, 1.4% and 1.4% respectively.
In the conglomerates sector, Transcorp and Unilever were the only companies divergent to the bearish trend with cumulative gains of 8.4% and 3.3%. UACN, A.G. Leventis and PZ Cussons headed south with losses of 1.3%, 9.6% and 11.5% respectively.
In the same vein, Eterna Oil and Oando were up by 4.6% and 1.1% this week while Mobil Oil and Total Oil recorded losses of 10.0% and 9.0%, others in the petroleum marketing sector remained unchanged though sentiments appeared to be skewed to the buy side,†Afrinvest report said.
Click here to download stock market report for June 28 2103-NSE