By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian stock exchange (NSE) Friday closed the week on a bearish note as All-share index (ASI) depreciated by 4.92 percent for the week ended February 14, 2014.
Weekly stock market report from the Nigeria’s exchange affirmed that its All-Share Index went down by 4.92% to close at 38,767.29 basis points compared with the depreciation of -2-24% recorded the previous week.
NSE’S weekly stock market report said all of the NSE sector indices depreciated during the week. The NSE 30 depreciated by 5.64% to close at 1,741.97, NSE Insurance by 5.19% to close at 143.58, NSE Oil/Gas by 7.08% to close at 300.54, NSE Lotus II by 1.73% to close at 2,839.39. The NSE Consumer Goods index depreciated by 4.91% to close at 996.04, NSE Banking index edged lower by 9.84% to close at 368.56, the NSE Industrial Goods index sheds 2.03% to close at 2,550.76 while the NSE-ASeM closed flat.
In terms of turnover, the NSE reported 1.918 billion shares worth N25.134 billion in 25,346 deals were traded this week by investors on the Nigerian bourse compared to a total of 1.591 billion shares valued at N23.079 billion that exchanged hands the previous week in 26,257 deals.
The NSE weekly stock market report affirmed that the financial services industry (measured by volume) led the activity chart with 1.465 billion shares valued at N12.927 billion traded in 13,693 deals; thus contributing 76.37% and 51.43% to the total equity turnover volume and value respectively.
According to the report, the oil and gas industry followed with a turnover of 145.423 million shares worth N1.239 billion in 2,716 deals. While in the third position was the conglomerates industry with 137.095 million shares worth N630.718 million in 1,546 deals.
The Nigeria’s exchange weekly stock market report further affirmed that trading in the top three (3) equities namely, NEM Insurance Company Nigeria Plc, Zenith Bank Nigeria Plc and FBN Holdings Plc (measured by volume) accounted for 554.707 million shares worth N6.106 billion in 4,649 deals, contributing 28.93% and 24.29% to the total equity turnover volume and value respectively.
On summary of price changes, the NSE’s weekly report said 16 equities appreciated in prices during the week lower than 46 of the preceding week, 67 depreciated in prices higher than 39 the past week, while 115 equities remained unchanged higher than 113 in the previous week.
Market Capitalisation for the week also depreciated by 4.92% to close on Friday at N12.427 trillion.
