By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian equities market on Friday closed negative as all-share index (ASI) went down 0.46 percent for the week ended July 11, 2014.
Weekly market report from the NSE affirmed that all-share index and market capitalisation both depreciated by 0.46% to close lower at 42,832.82 basis points (BPs) and N14.143 trillion respectively; indicating that Year-to-Date (YTD) returns currently stands at 3.64 percent.
In the same vein, the report said that three (3) of the NSE’s sector indices depreciated during the week with the exception of five (5) which appreciated.
However, market turnover at the Nigerian bourse closed positive as volume traded moved up by 5.94 percent compared to 47.79 percent uptick recorded in the previous session.
The NSE reported a turnover of 1.832 billion shares worth N19.394 billion in 26,521 deals were traded this week by investors on the floor of its bourse compared to a total of 2.272 billion shares valued at N28.624 billion that exchanged hands last week in 26,730 deals.
According to the NSE, trading in FBN Holdings Plc, Transnational Corporation of Nigeria Plc and Fidelity Bank Plc (measured by volume) accounted for 662.811 million shares worth N6.011 billion in 5,125 deals, contributing 36.18% and 30.99% to the total equity turnover volume and value respectively.
It said the financial services industry (measured by volume) led the activity chart with 1.313 billion shares valued at N9.533 billion traded in 12,356 deals; thus contributing 71.70% and 49.16% to the total equity turnover volume and value respectively.
Following was the conglomerates industry with a turnover of 241.568 million shares worth N1.459 billion in 2,788 deals. The third place was occupied by the oil and gas industry with 118.216 million shares worth N2.772 billion in 4,684 deals.
However, the NSE’s oil and gas sector recorded 2.34 percent gain to emerge the most supportive sectoral performance among others while, the NSE Lotus was the most hit with 0.42 percent loss in the review period.
A summary of price changes in the review period shows that 40 equities appreciated in prices during the week lower than 43 of the preceding week.
Also, 37 equities depreciated in prices higher than 35 recorded in the previous week, while 123 equities remained unchanged higher than 122 reported last week.
