By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian bourse on Friday ended the week on a bearish note as the all-share index (ASI) and market capitalisation depreciated by 3.93 percent and 3.64 percent to close at 37,550.24 and N12.437 trillion respectively.
Currently, month-to-date (MTD) and year-to-date (YTD) returns at the Nigerian bourse stands at a negative 8.88 percent and 9.14 percent respectively.
Similarly, all the indices depreciated during the week with the exception of the NSE insurance index that climbed up by 0.93 percent to close at 147.96, while the NSE ASeM closed flat.
Cordros weekly report said the bearish ending for the week is as a result of lackluster trading as disappointing earnings announcements of corporate further dampened investor’s sentiments.
‘’Despite the announcement of market-friendly policy change on the waiver of value added tax on capital market transactions, market traded southward as heightened volatility persisted all through the session,’’ the report affirmed.
The Nigerian Stock Exchange (NSE) reported a turnover of 2.097 billion shares worth N20.231 billion traded in 21,802 deals by investors on the floor of the bourse compared to a total of 1.413 billion shares valued at N17.038 billion that exchanged hands last week in 24,427 deals.
It reported the financial services industry (measured by volume) led the activity chart with 1.590 billion shares valued at N11.360 billion traded in 12,321 deals; thus contributing 75.84 percent and 56.15 percent to the total equity turnover volume and value respectively.
This was followed by the natural resources industry with a turnover of 200.178 million shares worth 100.153 million in 16 deals. The third position was occupied by the conglomerates industry with 153.749 million shares worth N982.796 million in 1,525 deals.
The NSE further affirmed that trading in the shares of top three (3) equities, Mansard Insurance Plc, Multiverse Plc and Ecobank Transnational Incorporated (measured by volume) accounted for 622.729 million shares worth N3.771 billion in 581 deals, contributing 29.70 percent and 18.64 percent to the total equity turnover volume and value respectively.
A summary of price changes at the Nigerian bourse shows that 24 equities appreciated in price during the week lower than 54 equities of the past week. 54 equities declined in price higher than 16 equities last week, while 121 equities remained unchanged lower than 130 recorded in the previous week.
