54 Stocks Drag NSE Market Indices Down by 1.34% in One Week

By Dipo Olowookere

The major market indices of the Nigerian Stock Exchange (NSE) went down last week by 1.34 percent following losses recorded by some equities listed on the local bourse.

Specifically, the All-Share Index (ASI) closed the week at 40,472.45 points, while the market capitalisation finished at N14.660 trillion.

Similarly, all other indices finished lower with the exception of the NSE Consumer Goods Index which appreciated by 0.03 percent, while the NSE ASeM Index closed flat.

During the week, 20 equities appreciated in price, higher than 35 in the previous week, while 54 equities depreciated in price, higher 49 equities of the previous week and 95 equities remained unchanged higher than 85 equities recorded in the preceding week.

A total turnover of 1.5 billion shares worth N23.7 billion in 19,674 deals were traded last week by investors on the floor of the NSE in contrast to a total of 1.6 billion shares valued at N26 billion that exchanged hands in the previous week in 21,115 deals.

The Financial Services Industry, measured by volume, led the activity chart with 1.2 billion shares valued at N16.8 billion traded in 11,092 deals; thus contributing 83.98 percent and 71.093 percent to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 76.4 million shares worth N5.2 billion in 3,425 deals, while the third place was occupied by Oil and Gas Industry with a turnover of 57.2 million shares worth N527.9 million in 2,237 deals.

Trading in the top three equities; Zenith Bank, GTBank and UBA, measured by volume, accounted for 491.7 million shares worth N14.2 billion in 3,265 deals, contributing 33.75 percent and 59.83 percent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 153,246 units of Exchange Traded Products (ETPs) valued at N4.009 million executed in 22 deals, compared with a total of 444,190 units valued at N2.514 million that was transacted last week in 11 deals.

In addition, a total of 7,508 units of Federal Government valued at N7.506 million were traded in the week in 12 deals, compared with a total of 7,647 units valued at N8.047 million transacted in the previous week in 30 deals.