By InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) market capitalisation on Friday shed N283.56 billion to close the week at N10.24 trillion, while the all-share index (ASI) closed 29,878.33 basis points; both dipping 2.69 percent.
Although investors’ reaction to shares of lender, Guaranty Trust Bank Plc’s performance was somewhat muted, maximum point appreciations in Access Bank Plc 9.84 percent and Nestle Nigeria Plc 9.52 percent led to a 0.44 percent gain on Friday, according to Cordros weekly market update.
Cordros says the decline led to an expansion in the Month-to-Date (M-t-D) and Year-to-Date (Y-t-D) losses to 1.00 percent and 13.79 percent respectively.
According to the NSE’s weekly report a turnover of 4.304 billion shares worth N20.048 billion in 20,219 deals were traded this week by investors on the floor of its bourse compared to a total of 1.357 billion shares valued at N12.475 billion that exchanged hands last week in 17,867 deals.
The report further affirmed that the Financial Services Industry (measured by volume) led the activity chart with 4.013 billion shares valued at N11.007 billion traded in 12,655 deals; thus contributing 93.26 percent and 54.91 percent to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with a turnover of 106.977 million shares worth N342.645 million in 1,151 deals. While the third position was occupied by the Consumer Goods Industry with 53.380 million shares worth N4.686 billion in 2,856 deals.
At the close of the week’s activity on the Nigerian equities market, trading in the shares of insurer, Equity Assurance Plc.; Access Bank Plc., and United Bank for Africa Plc (measured by volume) accounted for 3.251 billion shares worth N4.081 billion in 2,830 deals, contributing 75.53 percent and 20.36 percent to the total equity turnover volume and value respectively, the NSE report said.
A summary of price changes in the review week shows that 11 equities gained in price during the week, lower than 16 reported the past week. On the contrary, 61 equities lost in price, higher than 558 of the preceding week, while 118 equities remained unchanged, higher than 116 recorded posted the previous week.
