By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) All-Share Index (ASI) Friday dipped by 2.77 percent (2.77%) to close for the week ended August 16, 2013; the NSE’s weekly report said.
Similarly, all the indices depreciated during the week with the exception of NSE Insurance Index that appreciated by 0.05%. The NSE Consumer Goods, NSE Banking, NSE Oil/Gas, NSE-Lotus II, NSE Industrial Goods shed 3.59%, 2.46%, 3.88%, 4.60% and 3.52% respectively while NSE-ASeM closed flat .
Also, the NSE 30 Index depreciated by 2.96% to close at 1,733.02, while the market capitalisation of the listed equities on the main board also depreciated by 2.77% to close at N11.714 trillion.
According to Afrinvest weekly update equities, the ASI decline by 280bps this week was as a result of attractive yields in the money market due to the recent CBN policy on public sector funds, which has spurned a switch by investors in favour of the money market instruments.
A turnover of 1.835 billion shares worth N23.956 billion in 26, 146 deals were traded this week by investors on the floor of Nigerian Bourse compared to a total of 1.097 billion shares valued at N9.104 billion that exchanged hands the previous week in 17,076 deals.
As usual, the Financial Services sector (measured by volume) led the activity chart with 1.277 billion shares valued at N15.598 billion traded in 14,449 deals; contributing 69.58%, 65.11% and 55.26% to the total equity turnover volume, value and number of deals respectively.
Following the financial services sector in terms of turnover, is the Natural Resources sector with a turnover volume of 224.098 million shares worth N114.854 million in 49 deals contributing 12.21%, 0.48% and 0.19% to the total equity turnover volume, value and number of deals respectively.
While the Consumer Goods sector came third with 95.541 million shares worth N5.244 billion in 5,064 deals.
Trading in the top three equities namely Zenith Bank Plc, Multiverse Plc and FBN Holdings Plc (measured by turnover volume) accounted for 735.331 million shares worth N10.078 billion in 4,613 deals contributing 40.08%, 42.07% and 17.64% to the total equity turnover volume, value and deals respectively.
However, Zenith Bank was the most active stocks with a total volume of 331.8 million units valued N6.9 billion. Others include Multiverse and FBN Holdings with 222.2 million and 181.3 million worth N111 million and N3.0 billion respectively.
Summary of price changes for the week at the Nigeria’s Exchange shows that 17 equities appreciated in prices during the week lower than 35 of the preceding week. 63 equities depreciated in prices higher than 51 equities of the preceding week, while 114 remained constant higher than 108 equities of the preceding week.
Click here to read full NSE’s report for August 16, 2013
Click here to read Afrinvest weekly update for August 16, 2013
Click here to read Afrinvest weekly update for August 16, 2013