By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)- Year-to-Date (YTD) returns at the Nigerian bourse on Wednesday went down 16.14 percent as Nigerian stocks ended the year on a negative note with all-share index and market capitalisation declining 0.08 percent to close at 34,657.15 basis points and N11.478 trillion respectively.
According to the Nigerian Stock Exchange (NSE) weekly report, all its indices finished higher during the week with exception of the NSE Banking Index and NSE Oil & Gas Index that shed 6.69 percent and 19.40 percent respectively.
Investment One research affirmed at the end of the session, sectoral performance was majorly negative. The Oil and Gas sector led the decline slidiing 2.29 percent as investors took profit on oil marketing firms, Oando Plc and Conoil Plc.
Similarly, Investment One reports further affirmed that the Banking sector shed -1.70 percent as sell offs in top tier lenders Zenith Bank Plc, Guaranty Trust Bank Plc and Stanbic IBTC Plc depressed the sector’s performance.
However, the Industrial sector climbed up 1.99 percent pushed by shares of cement maker, Dangote Cement Plc, while the Consumer Goods sector dipped 1.75 percent.
At the end of the three (3) day trading week, the Nigerian equities market recorded a turnover of 1.245 billion shares worth N15.898 billion in 12,018 deals traded by investors compared to a total of 1.860 billion shares valued at N12.760 billion that exchanged hands last week in 13,469 deals.
The NSE reported that the Financial Services Industry (measured by volume) led the activity chart with 1.006 billion shares valued at N6.860 billion traded in 5,992 deals; thus contributing 80.78 percent and 43.15 percent to the total equity turnover volume and value respectively.
The report added that the Consumer Goods Industry followed with a turnover of 117.781 million shares worth N5.345 billion in 2,459 deals. In the third position was the Conglomerates Industry with 59.909 million shares worth N338.986 million in 762 deals.
At the end of the week’s trading, the NSE said insurer, Royal Exchange Plc, lenders First City Monument Bank Plc and Zenith International Bank Plc emerged the top three (3) equities and when measured by volume accounted for 413.764 million shares worth N2.092 billion in 1,419 deals, contributing 33.24 percent and 13.16 percent to the total equity turnover volume and value respectively.
A summary of price changes for the week shows that 39 equities appreciated in price during the week lower than 57 the previous week.
On the contrary, 36 equities dipped in price higher than 16 reported last week, while 122 equities remained unchanged lower than 124 recorded in the preceding week.
