By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian bourse on Friday closed the week with a gain of 0.38 percent as the all-share index (ASI) and market capitalisation closed at 23,916.15 basis points and N8.225 trillion respectively.
Similarly, all other Indices finished higher during the week, with the exception of the NSE Insurance Index, NSE Consumer Goods Index and NSE Industrial Goods Index that declined by 1.60 percent, 0.44 percent and 1.47 percent respectively, while NSE ASeM Index closed flat. “The growth decreased Year-to-Date (Y-t-D) losses to 16.50 percent,” Cordros weekly market update affirmed.
At the close of the week’s trading on the Nigerian Stock Exchange (NSE), a turnover of 1.133 billion shares worth N9.463 billion in 16,680 deals were traded by investors on the floor of the Exchange compared to a total of 2.177 billion shares valued at N10.753 billion that exchanged hands last week in 21,471 deals.
According to the NSE’s weekly stock market report, the Financial Services Industry (measured by volume) led the activity chart with 954.328 million shares valued at N5.533 billion traded in 9,797 deals; thus contributing 84.23 percent and 58.47 percent to the total equity turnover volume and value respectively.
The NSE reported that the Conglomerates Industry followed with 71.954 million shares worth N248.280 million in 926 deals. The third place was occupied by the Consumer Goods Industry with a turnover of 41.964 million shares worth N2.180 billion in 2,999 deals.
It further affirmed that trading in the top three (3) equities which include, Nigeria’s top tier lenders, Zenith International Bank Plc, United Bank for Africa Plc and Guaranty Trust Bank Plc.(measured by volume) accounted for 429.024 million shares worth N4.278 billion in 4,658 deals, contributing 37.87 percent and 45.21 percent to the total equity turnover volume and value respectively.
A summary of price changes in the review week at the Nigerian equities market shows that 38 equities appreciated in price during the week, higher than 33 of the previous week.
On the contrary, 29 equities depreciated in price; lower than 32 of the previous week, while 123 remained unchanged, lower than 125 equities recorded in the past week, according to the NSE’s report.
