By Peter OBIORA InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian equities market on Friday slumped by 1.10 percent to record two successive weeks of decline.

The Nigerian Stock Exchange (NSE) all-share index (ASI) and market capitalisation closed at 29,834.21 and N10.253 trillion respectively.

Similarly, all other Indices finished lower during the week with exception of NSE Banking, NSE Insurance and NSE Oil/Gas that chalked up by 0.67 percent, 2.81 percent and 3.75 percent respectively, while NSE ASeM Index closed flat, according to the NSE’s weekly stock market update.

At the close of the week’s trading on the Nigerian bourse, a turnover of 949.675 million shares worth N10.280 billion in 14,833 deals were traded by investors on the floor of the Exchange compared to a total of 1.390 billion shares valued at N12.170 billion that exchanged hands last week in 14,821 deals.

The report says the Financial Services Industry (measured by volume) led the activity chart with 577.298 million shares valued at N4.874 billion traded in 8,006 deals; thus contributing 60.79 percent and 47.41 percent to the total equity turnover volume and value respectively.

The Oil and Gas Industry followed with a turnover of 228.997 million shares worth N1.639 billion in 1,798 deals. The third place was occupied by the Conglomerates Industry with 50.980 million shares worth N275.452 million in 794 deals.

According to the NSE, activities in the shares of oil marketer, Capital Oil Plc, lenders United Bank for Africa Plc and Guaranty Trust Bank Plc (measured by volume) accounted for 370.170 million shares worth N2.386 billion in 2,042 deals, contributing 38.98 percent and 23.21percent to the total equity turnover volume and value respectively.

A summary of price changes in the review week shows that 29 equities appreciated in price during the week, higher than 23 reported the past week.