By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-Bears on Friday overrun the Nigerian Stock Exchange (NSE) on broad sell-offs as the all-share index (ASI) and market capitalisation dipped 1.08 percent to close at 33,257.90 and N11.353 trillion respectively.
Similarly, all the Indices finished lower during the week, with the exception of the NSE ASeM that rose by 0.17 percent to close at 1,213.52 points, the NSE weekly market report said.
This is the third consecutive week-on-week (W/W) decline following cautious trading exercised by investors during the course of the week as evident in the low volume of executed transactions, according to Cordros weekly market update.
The NSE says the Nigerian bourse closed the week with a turnover of 1.282 billion shares worth N31.297 billion in 19,143 deals traded this week by investors compared to a total of 1.552 billion shares valued at N17.532 billion that exchanged hands last week in 17,785 deals.
According to the Exchange, the Financial Services Industry (measured by volume) led the activity chart with 976.652 million shares valued at N11.266 billion traded in 10,121 deals; thus contributing 76.20 percent and 36.00 percent to the total equity turnover volume and value respectively.
The Consumer Goods Industry which recorded the worst performance followed with a turnover of 114.138 million shares worth N7.977 million in 3,467 deals. The third place was occupied by the Oil and Gas Industry which also performed worse with 70.868 million shares worth N10.490 billion in 2,016 deals.
At the close of the week’s session on Friday, trading in the shares of Nigeria’s top three (3) lenders, Access Bank Plc., Zenith International Bank Plc and Guaranty Trust Bank Plc., (measured by volume) accounted for 486.911 million shares worth N7.688 billion in 3,963 deals, contributing 37.99 percent and 24.56 percent to the total equity turnover volume and value respectively, the NSE report added.
In terms of summary of price changes, 28 equities soared in price during the week, higher than 24 of the past week. On the contrary, 46 equities declined in price, higher than 42 recorded the previous week, while 119 equities remained unchanged, lower than 127 equities recorded in the preceding week.
