By Yakubu LAAH InvestAdvocate
Lagos INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) ended the week on a bearish note as all-share index (ASI) and market capitalisation dipped 2.49 percent week-on-week (W/W) to 31,726.26 points and N10.836 trillion respectively, the NSE said in its weekly stock market report.
“Similarly, all the Indices finished lower during the week, with the exception of NSE Insurance Index that closed higher by 1.26 percent,” NSE reported.
On its part, Cordros weekly market update reported the week’s loss at the Nigerian equities market is the lowest value since March 30th and its worst w/w performance since March 23rd.
The update says the loss increased the negative return for the month of July – which is yet to record a positive session to a negative 5.16 percent, while the Year-to-Date Y-t-D) loss rose to 8.45 percent.
NSE reported a turnover of 1.264 billion shares worth N15.770 billion in 17,016 deals were traded this week by investors on the its bourse compared a total of 1.269 billion shares valued at N17.570 billion that exchanged hands last week in 18,993 deals.
According to the Nigeria’s Exchange, the Financial Services Industry (measured by volume) led the activity chart with 831.925 million shares valued at N8.924 billion traded in 9,602 deals; thus contributing 65.81 percent and 56.59 percent to the total equity turnover volume and value respectively.
It affirmed that the Natural Resources Industry followed with a turnover of 210.046 million shares worth N105.218 million in 14 deals. While, the third position was occupied by Oil and Gas Industry with 59.600 million shares worth N1.418 billion in 1,632deals.
Transactions in the shares top three (3) equities which include lenders, Zenith Bank Plc, Access Bank Plc and Multiverse Plc (measured by volume) accounted for 604.019 million shares worth N5.590 billion in 2,322 deals, contributing 47.78 percent and 35.45 percent to the total equity turnover volume and value respectively, the NSE added.
A summary of price changes in the review period at the close of business on the Nigerian bourse shows that 19 equities gained in price during the week, lower than 33 the past week. On the contrary, 50 equities lost in price higher than 36 of the preceding week, while 124 equities remained unchanged, the same figure reported the previous week.
