Three Equities Contribute 87.91% to NSE’s Weekly Turnover

By Dipo Olowookere

The All-Share Index (ASI) and market capitalisation of the Nigerian Stock Exchange (NSE) further depreciated by last week by 0.65 percent and 0.59 percent respectively to close the week at 29,851.29 points and N13.155 trillion apiece.

All other indices finished higher with the exception of the NSE-Main Board Index, NSE Premium

Index, NSE MERI Growth Index, NSE Consumer Goods Index and NSE Lotus II which depreciated by 0.49 percent, 0.77 percent, 0.83 percent, 1.64 percent and 1.54 percent respectively while NSE ASeM Index closed flat.

In the week, the market recorded a total turnover of 7.5 billion shares worth N91.1 billion were executed in 17,192 deals by investors on the floor of the exchange in contrast to a total of 868.7 million shares valued at N15.8 billion that exchanged hands the previous week in 12,201 deals.

Stocks in the financial services sector led the activity chart with 6.1 billion units valued at N17.5 billion traded in 8,479 deals, contributing 81.87 percent and 19.16 percent to the total equity turnover volume and value respectively.

Equities in the oil and gas industry followed with one billion units worth N65.1 billion in 2,019 deals, with shares in the ICT sector churning out a turnover of 115.3 million units worth N3.4 billion in 866 deals.

Trading in Wema Bank, Forte Oil and Zenith Bank accounted for 6.6 billion shares worth N77.5 billion in 2,895 deals, contributing 87.91 percent and 85.06 percent to the total equity turnover volume and value respectively.

A total of 34 equities appreciated in price during the week, higher than 19 in the previous week, while 33 equities depreciated in price, higher than 31 equities of the previous week, with 101 equities remaining unchanged, lower than 118 equities recorded in the preceding week.

Linkage Assurance topped the gainers’ chart after gaining 37.50 percent to close at 66 kobo per share.

NEM Insurance appreciated by 33.33 percent to finish at N2.80k per unit, while Thomas Wyatt Nigeria improved by 21.21 percent to end at 40 kobo per share.

Lafarge Africa increased by 18.46 percent to close at N9.75k per unit, while Champion Breweries rose by 18.33 percent to finish at N1.42k per share.

At the other side of the coin, Chams led the losers’ table with a decline of 13.89 percent to settle at 31 kobo per share.

It was followed by CAP, which went down by 11.58 percent to end at N27.50k per unit, and Okomu Oil, which depreciated by 10 percent to close at N66.60k per share.

C&I Leasing and ABC Transport also dropped 10 percent to settle at N5.67k and 27 kobo per share respectively.

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. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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