ga('create', 'UA-82078971-1', 'auto'); ga('require', 'displayfeatures'); ga('require', 'linkid', 'linkid.js'); ga('set', 'forceSSL', true); ga('send', 'pageview');

Nigeria’s All-Share Index Loses 789.33 Points in 5 Days

By Dipo Olowookere

For the third consecutive week, the Nigerian Stock Exchange (NSE) closed on a negative note last week with negative sentiments persisting.

At the close of business last Friday, the stock market depreciated by 2.11 percent week-on-week (w-o-w), declined by 4.38 percent month-to-date and quarter-to-date; and down by 4.29 percent year-to-date.

Business Post reports that the All-Share Index (ASI) depreciated by 789.33 points to close at 36,603.44 points, while the market capitalisation ended at N13.260 trillion.

It was observed that all other indices finished lower with the exception of the NSE Insurance Index, which appreciated by 0.08 percent.

ALSO READ  Osun Workers to Get 3 Months’ Salaries from Monday

During the week, 16 equities appreciated in price, lower than 21 in the previous week, while 59 equities depreciated in price, higher than 55 equities of the previous week, and 94 equities remained unchanged higher than 93 equities recorded in the preceding week.

A total turnover of 1.665 billion shares worth N14.8 billion in 18,795 deals were traded last week by investors on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of 1.219 billion shares valued at N17.3 billion that exchanged hands a week earlier in 17,362 deals.

The Financial Services industry measured by volume led the activity chart with 1.056 billion shares valued at N10.2 billion traded in 10,056 deals, contributing 63.45 percent and 68.93 percent to the total equity turnover volume and value respectively.

ALSO READ  Ophir Energy Seals Oil Exploration Deal in Equatorial Guinea

The Services industry followed with 264.289 million shares worth N549.7 million in 592 deals, while the third place was occupied by Conglomerates sector with a turnover of 134.374 million shares worth N199.6 million in 1,286 deals.

Trading in the top three equities; Sterling Bank, Medview Airline and  Zenith Bank measured by volume accounted for 719.386 million shares worth N4.2 billion in 1,961 deals, contributing 43.20 percent and 28.38 percent to the total equity turnover volume and value respectively.

ALSO READ  Investors Gain N282b as All-Share Index Crosses 30,000 Mark

Also traded during the week were a total of 340 units of Exchange Traded Products (ETPs) valued at N33,660.20 executed in 6 deals, compared with a total of 79,304 units valued at N1.491 million that was transacted in the previous week in 18 deals.

In addition, a total of 17,251 units of Federal Government Bonds valued at N17.9 million were traded during the week in 18 deals compared with a total of 13,517 units valued at N14.899 million transacted a week earlier in 30 deals.

Related Articles

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

more recommended stories

%d bloggers like this: