By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-Nigerian stocks on Friday ended the week on a bearish note as all-share index (ASI) and market capitalisation sheds 0.49 percent and 0.45 percent to close at 34,272.09 and N11.644 trillion respectively.
Similarly, all indices finished lower during the week with exception of the NSE Insurance index that edged higher by 0.99 percent while the NSE ASeM index closed flat, according to the Nigerian Stock Exchange (NSE) weekly report.
Cordros report say the volatile week-on-week (w-o-w) trading pattern continued this week at the end of which the equities market closed at a loss, following the gain recorded last week.
It noted the loss brings the current Year-to-Date (Y-t-D) and Month-to-Date (M-t-D) returns to a negative 1.11 percent and 1.26 percent respectively.
The NSE in the review week say a turnover of 2.943 billion shares worth N16.045 billion in 21,306 deals were traded this week by investors on the floor of its bourse compared to a total of 1.626 billion shares valued at N14.426 billion that exchanged hands last week in 20,124 deals.
According to the report, the Financial Services Industry (measured by volume) led the activity chart with 2,624 billion shares valued at N8.189 billion traded in 11,611 deals; thus contributing 89.14 percent and 51.04 percent to the total equity turnover volume and value respectively.
“The Consumer Goods Industry followed with a turnover of 82.643 million shares worth N4, 752 billion in 3,753 deals. The third place was occupied by the Conglomerates Industry with 73.966 million shares worth N365.50 million in 948 deals,” the NSE report added.
Also, trading in the shares of three (3) equities namely – Lasaco Insurance Plc, United Bank for Africa Plc, and Skye Bank Plc, (measured by volume) accounted for 1.864 million shares worth N2.028 billion in 1,972 deals, contributing 63.33 percent and 12.64 percent to the total equity turnover volume and value respectively.
At the close of the week’s business on the Nigerian bourse, a summary of price changes shows that 39 equities appreciated in price during the week, higher than 30 of the previous week.
On the contrary, 32 equities declined in price, lower 41 of the past week, while 122 equities remained unchanged, same as recorded in the preceding week.
