By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Friday halted its 10-day losing streak as all-share index (ASI) and market capitalisation gained 2.33 percent to close the week at 39,087.10 and N12.906 trillion respectively.
The NSE weekly market updated reported that all the indices appreciated during the week with the exception of the NSE Lotus II Index that sheds 0.31 percent to close at 2,533.50.
Analysts at Cordros said the NSE trading commenced the week, with share prices initially rebounding in the first three (3) days of the week before declining in Thursday and Friday’s session on the back of weaker than expected corporate earnings announcements.
In terms of market breadth in the week under review, the Nigerian equities market recorded 54 losers and 21 gainers with a turnover of 1.413 billion shares worth N17.038 billion in 24,427 deals were traded this week by investors compared to a total of 1.885 billion shares valued at N23.733 billion that exchanged hands last week in 24,705 deals.
The NSE reported that the financial services industry (measured by volume) led the activity chart with 1.053 billion shares valued at N9.498 billion traded in 13,526 deals; thus contributing 74.51 percent and 55.75 percent to the total equity turnover volume and value respectively.
It further reported that the conglomerates industry followed with a turnover of 156.680 million shares worth 857.655 million in 1,558 deals, while the services industry came in third with 62.401 million shares worth N196.893 million in 856 deals.
According to the report, the shares of Transnational Corporation of Nigeria Plc, Mansard Insurance Plc and Guaranty Trust Bank Plc (measured by volume) accounted for 368.622 million shares worth N3.933 billion in 2,886 deals, contributing 26.09 percent and 23.08 percent to the total equity turnover volume and value respectively.
A summary of price changes at the Nigerian equities market in the review week showed that 54 equities appreciated in prices during the week higher than 13 of the previous week.
On the contrary, 16 equities depreciated in prices lower than 69 recorded last week, while 130 equities remained unchanged higher than 118 recorded in the preceding week.
