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37 Stocks Weaken Nigerian Market by 2.33% in 5 Days

By Modupe Gbadeyanka

A total of 33 equities appreciated in price last week on the floor of the Nigerian Stock Exchange (NSE), lower than 37 in the previous week, while 39 equities depreciated in price, higher than 34 equities of the previous week, and 97 equities remained unchanged, lower than 98 equities recorded in the preceding week.

The All-Share Index and market capitalization depreciated by 2.33 percent to close the week at 34,037.91 points and N12.426 trillion respectively.

Similarly, all other indices finished lower with the exception of the NSE ASeM Index that closed flat.

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During the week, a total turnover of 892.7 million shares worth N13.1 billion in 15,607 deals were traded by investors in contrast to a total of 1.5 billion shares valued at N23 billion that exchanged hands a week earlier in 17,009 deals.

It was observed that the Financial Services industry, measured by volume, led the activity chart with 758 million shares valued at N9.3 billion traded in 9,653 deals, contributing 84.91 percent and 70.76 percent to the total equity turnover volume and value respectively.

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The Consumer Goods sector followed with 43.7 million shares worth N2.8 billion in 2,231 deals, while the third place was occupied by Oil and Gas industry with a turnover of 28.9 million shares worth N558.3 million in 1,430 deals.

Trading in the top three equities; United Bank for Africa, Guaranty Trust Bank and Stanbic IBTC Bank accounted for 257.2 million shares worth N7 billion in 2,270 deals, contributing 28.81 percent and 53.50 percent to the total equity turnover volume and value respectively.

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Also traded during the week were a total of 1.248 units of Exchange Traded Products (ETPs) valued at N197,421.45 executed in 3 deals, compared with a total of 2,422 units valued at N3.752 million that was transacted the previous week in 15 deals.

In addition, a total of 64,438 units of Federal Government Bonds valued at N70.323 million were traded in the week in 38 deals compared with a total of 42,158 units valued at N42.397 million transacted in the previous week in 25 deals.

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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