By InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Friday posted a Week-on-Week (w/w) loss of 1.73 percent as all-share index (ASI) and market capitalisation closed at 23,501.87 basis points and N8.083 trillion respectively.
“Similarly, all other Indices finished lower during the week, with the exception of the NSE ASeM Index, NSE Insurance Index, and the NSE Oil/Gas Index that appreciated by 0.07 percent, 0.86 percent and 4.02 percent respectively, according to the NSE’s weekly stock market report.
With this trend, Year-to-Dates (Y-t-D) loss on the local bourse increased to 17.95 percent. “This can be attributed to short term traders taking profits in addition to investors’ concerns that a huge oversupply in crude was coinciding with a global economic slowdown, especially in China. The bearish sentiment was sustained for most of the week, with all but one session, Tuesday, closing negative,” Cordros weekly market update affirmed.
The NSE reported that at the close of the week’s trading on the Nigerian equities market, a turnover of 5.087 billion shares worth N18.487 billion in 16,711 deals were traded this week by investors on the floor of bourse compared to a total of 1.133 billion shares valued at N9.463 billion that exchanged hands last week in 16,680 deals.
It said the Financial Services Industry measured by volume led the activity chart with 4.896 billion shares valued at N11.396 billion traded in 9,840 deals; thus contributing 96.25 percent and 61.64 percent to the total equity turnover volume and value respectively.
The Conglomerates followed with 78.909 million shares worth N211.328 million in 604 deals. The third place was occupied by the Industrial Goods Industry with a turnover of 38.917 million shares worth N4.185 billion in 1,010 deals.
The report says trading in the top three (3) equities which include mid-tier lender, Wema Bank Plc, financial Holdco, FBN Holdings Plc and Nigeria’s top tier lender, Zenith International Bank Plc, measured by volume accounted for 4.261 billion shares worth N8.548 billion in 3,763 deals, contributing 83.76 percent and 46.24 percent to the total equity turnover volume and value respectively.
A summary of price changes in the review period shows that 30 equities appreciated in price during the week, lower than 38 recorded the previous week. On the contrary, 40 equities depreciated in price, higher than 29 of the past week, while 120 equities remained unchanged, lower than 123 equities recorded in the previous week.
Click to download the NSE’s weekly market report for the period ended February 5, 2016
