Value of Traded Stocks Drops in One Week as Index Sheds 1.60%

By Modupe Gbadeyanka

It was another four-day trading week as the Federal Government of Nigeria declared Monday, April 2, 2018 as a public holiday for the Easter celebrations.

During the week, the total volume and value of equities transacted by investors on the floor of the Nigerian Stock Exchange (NSE) depreciated.

Business Post reports that a total turnover of 1.765 billion shares worth N26.562 billion were traded in 20,265 deals in contrast to a total of 2.328 billion shares valued at N28.927 billion executed last week in 25,530 deals.

The Financial Services Industry measured by volume led the activity chart with 1.468 billion shares valued at N18.707 billion traded in 12,850 deals; thus contributing 83.18 percent and 70.43 percent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 127.882 million shares worth N623.871 million in 971 deals, while the third place was occupied by Consumer Goods with a turnover of 69.868 million shares worth N6.189 billion in 2,930 deals.

Trading in the top three equities; namely Zenith Bank, Access Bank and United Bank for Africa measured by volume accounted for 543.758 million shares worth N9.739 billion in 3,533 deals, contributing 30.81 percent and 36.66 percent to the total equity turnover volume and value respectively.

In the week, the All-Share Index and market capitalization depreciated by 1.60 percent to close at 40,841.14 points and N14.753 trillion respectively.

Similarly, all other indices finished lower during the week.

A total of 19 equities appreciated in price during the week, lower than 40 of the previous week, while 53 equities depreciated in price, higher than 40 equities of the previous week, and 99 stocks equities remained unchanged higher than 91 equities recorded in the preceding week.

Also traded during the week were a total of 125,282 units of Exchange Traded Products (ETPs) valued at N2.835 million executed in 11 deals, compared with a total of 15,293 units valued at N254,840.00 that was transacted last week in 16 deals.

Furthermore, a total of 4,457 units of Federal Government Bonds valued at N4.247 million were traded this week in 13 deals, compared with a total of 21,583 units valued at N22.868 million transacted last week in 16 deals.