By InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian equities market on Friday ended the week on a negative note, as the all-share index (ASI) and market capitalisation declined 1.77% to close at 27,835.22 and N9.561 trillion respectively.
“Similarly, all other Indices finished lower during the week with the exception of the NSE ASeM Index closed flat,” according to the Nigerian Stock Exchange (NSE) weekly stock market report.
The report says the market opened for four (4) trading sessions this week as the Federal Government of Nigeria declared Monday 3rd of October, 2016 as Public Holiday in commemoration of the Independence day Celebration.
At the close of the week’s session on the domestic bourse, the NSE recorded a turnover of 934.905 million shares worth N6.357 billion in 12,352 deals traded by investors compared to a total of 1.287 billion shares valued at N9.303 billion that exchanged hands last week in 15,258 deals.
According to the NSE, the Financial Services Industry measured by volume led the activity chart with 817.195 million shares valued at N4.081 billion traded in 7,268 deals; thus contributing 87.41 percent and 64.19 percent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 46.366 million shares worth N86.730 million in 514 deals. The third place was occupied by the Oil and Gas Industry with a turnover of 21.539 million shares worth N465.820 million in 1,310 deals.
The report affirmed that trading in the shares of Nigeria’s top tier lenders, Access Bank Plc, Diamond Bank Plc and FCMB Group Plc measured by volume accounted for 364.682 million shares worth N1.074 billion in 1,359 deals, contributing 39.01 percent and 16.90 percent to the total equity turnover volume and value respectively.
Also traded during the week were a total of 184 units of Exchange Traded Products (ETPs) valued at N2,077.37 executed in 16 deals, compared with a total of 4.761 million units valued at N25.821 million transacted last week in 45 deals.
A total of 580 units of Federal Government Bonds valued at N576,723.03 were traded in 2 deals compared to a total of 2,023 units of Federal Government Bonds valued at N1.925 million transacted last week in 4 deals.
A summary of price changes in the review week shows that 22 equities gained in price during the week, lower than 35 traded the past week. On the flipside, 35 equities lost in price, higher than 32 of the previous week, while 123 equities remained unchanged higher than 113 recorded in the preceding week.
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