By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The All Share Index and market capitalisation fell by 1.31 percent week-on-week (w/w) to close at 27,269.71 basis points and N9.376 trillion respectively.
Similarly, nine (9) other Indices finished lower during the week, with the exception of the NSE Oil and Gas Index that rose by 0.09 percent, while the NSE ASeM Index closed flat, according to the Nigerian Stock Exchange (NSE) weekly stock market report.
In the same vein, Cordros weekly market update says the loss extended Year-to-Date (Y-t-D) loss on the Nigerian bourse to 21.32 percent. “The market kicked off the week on a positive note, but reverted to losses in the next two (2) sessions after heavyweight counters in the Banking and Industrial Goods sectors came under pressure,” the update affirmed.
At the close of the week’s trading on the Nigerian equities market, a turnover of 1.174 billion shares worth N13.846 billion in 13,870 deals were traded this week by investors on the floor of local bourse compared to a total of 1.218 billion shares valued at N14.685 billion that exchanged hands last week in 13,495 deals.
The NSE reported that the Financial Services Industry (measured by volume) led the activity chart with 827.653 million shares valued at N5.108 billion traded in 8,266 deals; thus contributing 70.49 percent and 36.89 percent to the total equity turnover volume and value respectively.
According to the stock market report, the Natural Resources Industry followed with 147.047 million shares worth N73.740 million in 18 deals. While the third position was occupied by the Consumer Goods Industry with a turnover of 88.348 million shares worth N4.428 billion in 2,518 deals.
The report further affirmed that trading in the shares of top three (3) equities which include Multiverse Plc, insurer, Guinea Insurance Plc and Nigeria top tier lender, Zenith International Bank Plc(measured by volume) accounted for 397.435 million shares worth N1.869 billion in 1,785 deals, contributing 33.85 percent and 13.50 percent to the total equity turnover volume and value respectively.
A summary of price changes in the review period shows that 25 equities appreciated in price during the week, lower than 28 posted last week. On the contrary, 37 equities depreciated in price, lower than 51 declared the previous week, while 128 equities remained unchanged, higher than 111 equities recorded in the past week.
