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By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stocks on Friday closed the week down on sell-offs across sectors as the Nigerian Stock Exchange (NSE) all-share index (ASI) and market Capitalisation depreciated by 13.00% to close the week at 23,514.04 basis points and N8.087 trillion respectively.
At the end of the week’s trading, the NSE reported a turnover of 1.459 billion shares worth N14.165 billion in 15,164 deals were traded this week by investors on the floor of the local bourse compared to a total of 899.604 million shares valued at N7.669 billion that exchanged hands last week in 14,164 deals.
The reported affirmed that the Financial Services Industry (measured by volume) led the activity chart with 1.287 billion shares valued at N8.953 billion traded in 10,020 deals; thus contributing 88.17 percent and 63.20 percent to the total equity turnover volume and value respectively.
The Consumer Goods Industry followed with 59.832 million shares worth N3.072 billion in 2,165 deals. The third place was occupied by the Conglomerates Industry with a turnover of 56.606 million shares worth N152.949 million in 695 deals, according to the NSE weekly stock market report.
It said trading in the shares of Nigeria’s top tier lenders, Guaranty Trust Bank Plc, Zenith International Bank Plc and FBN Holdings Plc.(measured by volume) accounted for 693.443 million shares worth N7.719 billion in 5,960 deals, contributing 47.51 percent and 54.49 percent to the total equity turnover volume and value respectively.
Similarly, all other Indices finished lower during the week, with the exception of the NSE ASeM Index that chalked up by 0.07 percent to close at 1,204.49 basis points, the NSE update added.
A summary of price changes on the Nigerian equities market shows that Seven (7) equities appreciated in price during the week, lower than seventeen (17) equities of the previous week. On the contrary, 56 equities depreciated in price, higher than 50 reported the past week; while 127 equities remained unchanged, higher than 123 posted the previous week.
