By InvestAdvocate
Lagos (INVESTADVOCATE)- The Nigerian Stock Exchange (NSE) on Friday closed in red as all-share index (ASI) and market capitalisation dipped by 1.45 percent to close the week at 27,232.62 and N9.353 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 rose by 0.25 percent, 1.71 percent and 1.97 percent respectively, according to the NSE weekly stock market report for June 10, 2016.
This is coming on the heels of persistent profit-taking in the Nigerian equities market, as market activities this week further gave a nod to the fact that investors remained spooked by the uncertainty surrounding the nation’s forex policy, Cordros weekly market update affirmed.
The NSE reports at the close of the week’s trading on the local bourse, a turnover of 959.917 million shares worth N7.871 billion in 17,561 deals were traded this week by investors compared to a total of 1.263 billion shares valued at N11.583 billion that exchanged hands last week in 17,434 deals.
According to the update, the Financial Services Industry (measured by volume) led the activity chart with 782.476 million shares valued at N4.114 billion traded in 10,477 deals; thus contributing 81.51 percent and 52.27 percent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 59.433 million shares worth N99.619 million in 762 deals. The third place was occupied by the Consumer Goods Industry with a turnover of 46.553 million shares worth N2.833 billion in 2,703 deals.
The report says trading in the top three (3) equities namely – United Bank for Africa Plc, FBN Holdings Plc and Access Bank Plc (measured by volume) accounted for 288.689 million shares worth N1.275 billion in 3,854 deals, contributing 30.07 percent and 16.20 percent to the total equity turnover volume and value respectively.
Also traded during the week were a total of 78,666 units of Exchange Traded Products (ETPs) valued at N866,656.30 executed in 25 deals, compared with a total of 6,500 units valued at N117,637.20 transacted last week in 24 deals.
In terms of bonds, a total of 4,725 units of Federal Government Bonds valued at N5.266 million were traded in three (3) deals compared to a total of 151,970 units of Federal Government and Corporate Bonds valued at N170.962 million transacted last week in 5 deals.
A summary of price changes in the review period shows that 27 equities gained in price during the week, higher than 12 of the previous week. On the contrary, 41 equities lost in price, lower than 60 reported last week, while 112 equities remained unchanged higher than 108 posted the past week.
Click here to download NSE Stock Market report for June 10, 2016
