32 Stocks Weaken NSE Index by 1.17% as Investors Trade N7.8b Shares

By Dipo Olowookere

A total of 32 equities depreciated in price on the floor of the Nigerian Stock Exchange (NSE) last week lower than 41 equities of the previous week.

This was as 27 equities appreciated in price during the week, lower than 28 in the previous week, while 110 equities remained unchanged, higher than one 100 equities recorded in the preceding week.

Business Post reports that the market opened for four trading days in the week as the Federal Government of Nigeria declared Monday, October 1, 2018 a public holiday to mark the 58th independence anniversary.

At the close of transactions for the week on Friday, the All-Share Index (ASI) and market capitalization depreciated by 1.17 percent to close the week at 32,383.15 points and N11.822 trillion respectively.

Similarly, all other indices finished lower with the exception of the NSE Oil/Gas Index that rose by 1.13 percent, while the NSE ASeM Index closed flat.

Meanwhile, a total turnover of 639.3 million shares worth N7.8 billion in 10,477 deals were traded in the week by investors on the floor of the Exchange in contrast to a total of 924.6 million shares valued at N14.2 billion that exchanged hands the previous week in 14,119 deals.

The Financial Services industry, measured by volume, led the activity chart with 517.9 million shares valued at N4.7 billion traded in 5,977 deals, contributing 81 percent and 59.35 percent to the total equity turnover volume and value respectively.

The Consumer Goods industry followed with 54.7 million shares worth N2.5 billion in 1,703 deals, while the third place was Conglomerates industry with a turnover of 14.8 million shares worth N25.6 million in 452deals.

Trading in the top three equities; First City Monument Bank (FCMB), Fidelity Bank and Guaranty Trust Bank (GTBank), measured by volume, accounted for267.5 million shares worth N2.6 billion in 1,733 deals, contributing 42 percent and 33.05 percent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 49,238 units of Exchange Traded Products (ETPs) valued at N807.376.95 executed in 5 deals compared with a total of 97,183 units valued at N1.511 million that was transacted the previous week in 4 deals.

In addition, a total of 2,155 units of Federal Government Bonds valued at N2.113 million were traded in the week in 12 deals compared with a total of 13,715 units valued at N13.242 million transacted a week earlier in 49 deals.