By InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Friday ended the week on a bearish note for the third consecutive week as the all-share index (ASI) declined 2.40 percent to 24,719.27 points, while market capitalisation shed N209.41 billion to close at N8.50 trillion.
Similarly, all other Indices finished lower during the week, with the exception of the NSE Premium Index, NSE ASeM Index, NSE Banking Index, NSE Insurance Index and the NSE Pension Index that rose by 0.45 percent, 0.38 percent,0.31 percent,1.86 percent and 0.55 percent respectively, the NSE weekly market report affirmed.
“The week kicked off on a disappointing note, as investors reacted to the potential exclusion of Nigerian equities from MSCI Frontier Markets index. Sentiments remained dampened for the rest of the week, save for penultimate (+0.44 percent) session,” Cordros weekly market report said.
The NSE says at the close of the week’s trading on the local bourse, a turnover of 8.054 billion shares worth N13.328 billion in 15,212 deals were traded by investors compared to a total of 1.111 billion shares valued at N6.201 billion that exchanged hands last week in 15,315 deals.
According to the report, the Financial Services Industry measured by volume led the activity chart with 7.890 billion shares valued at N10.807 billion traded in 9,730 deals; thus contributing 97.96 percent and 81.09 percent to the total equity turnover volume and value respectively.
In the same vein, the Conglomerates Industry followed with 61.402 million shares worth N93.053 million in 605 deals. The Consumer Goods Industry took the third position with a turnover of 48.978 million shares worth N1.017 billion in 2,238 deals.
The NSE reports that trading in the shares of mid-tier bank, Wema Bank Plc and Nigeria’s top tier lenders, the United Bank for Africa Plc and Guaranty Trust Bank Plc, measured by volume accounted for 7.133 billion shares worth N8.954 billion in 2,364 deals, contributing 88.56 percent and 67.18 percent to the total equity turnover volume and value respectively.
Also traded during the week were a total of 690 units of Exchange Traded Products (ETPs) valued at N572,158.80 executed in 28 deals, compared with a total of 24,200 units valued at N621,286 transacted last week in 26 deals.
In terms of Bonds, the NSE reports that a total of 28,280 units of Federal and State Government Bonds valued at N29.572 million were traded in 8 deals compared to a total of 6,908 units of Federal Government Bonds valued at N7.739 million transacted last week in 7 deals.
A summary of price changes in the review week shows that 26 equities appreciated in price lower than 27 of the previous week. On the flipside, 41 equities depreciated in price, higher than 40 posted last week, while 122 equities remained unchanged same as the previous week.
Click here to view NSE Weekly Stock Market Report for the Period Ended April, 2016
