By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) all-share index (ASI) and market capitalisation on Friday ended the week on a bearish note dipping 1.88 percent and 1.44 percent to close at 33,664.91 and N11.491 trillion respectively.
Similarly, four (4) indices finished lower during the week, while NSE Consumer Goods, NSE Lotus II, NSE Industrial Goods Indices closed higher by 0.08 percent, 0.37 percent, and 0.16 percent respectively. However, the NSE ASeM index closed flat, according to the NSE weekly stock market report for June 5, 2015.
Cordros weekly market report says despite the bullish session on Friday with a 0.95 percent gain, the NSE ASI depreciating by 1.88 percent is the worst week-on-week (w/w) performance since the week ended 13 April-when the benchmark index dropped 2.23 percent. “Following this week’s decline, the Year-to-Date loss expanded to 2.86 percent as investor appetite remains low,” the Cordros report affirmed.
A turnover of 1.221 billion shares worth N16.964 billion in 19,847 deals were traded this week by investors on the floor of The Exchange in contrast to a total of 1.799 billion shares valued at N22.105 billion that exchanged hands last week in 17,337 deals.
The NSE weekly stock market report say the Financial Services Industry (measured by volume) led the activity chart with 935.233 million shares valued at N9.258 billion traded in 11,066 deals; thus contributing 76.58 percent and 54.58 percent to the total equity turnover volume and value respectively.
According to the report, the Consumer Goods Industry followed with a turnover of 77.298 million shares worth N5.048 billion in 3,144 deals. The third place was occupied by the Conglomerates Industry with 47.348 million shares worth N228.761 million in 1,182 deals.
The NSE further affirmed that trading in the shares of lenders, Zenith International Bank Plc, Diamond Bank Plc and United Bank for Africa Plc., (measured by volume) accounted for 357.004 million shares worth N4.033 billion in 3,021 deals, contributing 29.23 percent and 23.77 percent to the total equity turnover volume and value respectively.
A summary of price changes on the Nigerian bourse shows that 27 equities appreciated in price during the week, lower than 38 of the past week. On the contrary, 47 equities dipped in price, 31 of the previous week, while 119 equities remained unchanged, lower than 124 recorded in the preceding week.
