Modupe Gbadeyanka
By Modupe Gbadeyanka
A total turnover of 988.5 million shares worth N13.8 billion were traded in 16,414 deals last week by investors on the floor of the Nigerian Stock Exchange (NSE). This was in contrast to a total of 1.025 billion shares valued at N9.9 billion that exchanged hands the previous week in 19,375 deals.
During the week, the All-Share Index (ASI) depreciated by 2.41 percent while the market capitalisation appreciated by 7.91 percent to close the week at 28,566.79 points and N13.922 trillion respectively.
All other indices finished lower with the exception of the NSE banking index that rose by 0.78 percent while the NSE ASeM Index closed flat.
According to data from the NSE, the Financial Services industry measured by volume led the activity chart with 769.4 million shares valued at N7.2 billion traded in 8,530 deals, contributing 77.83 percent and 52.30 percent to the total equity turnover volume and value respectively, while the Conglomerates sector followed with 55.2 million shares worth N92.5 million in 719 deals, with the third place occupied by the ICT sector after a turnover of 42.1 million shares valued at N4.1 billionin 839 deals.
Trading in Zenith Bank, FBN Holdings and Wapic Insurance accounted for 348.8 million shares worth N3.520 billion in 2,703 deals, contributing 35.29 percent and 25.44 percent to the total equity turnover volume and value respectively.
A total of 18 equities appreciated in price during the week, lower than 21 in the previous week, while 39 equities depreciated in price, lower than 44 equities in the previous week, with 111 equities remaining unchanged, higher than 103 equities recorded in the preceding week.
Topping the gainers’ chart in the week was Sovereign Trust Insurance, which appreciated by 9.52 percent.
Following were Union Bank by 9.49 percent, Cadbury Nigeria by 8.64 percent, Flour Mills by 8.00 percent and Cutix by 7.14 percent.
On the flip side, Forte Oil was the worst performing stock, depreciating by 23.33 percent.
GlaxoSmithKline went down by 18.63 percent, NAHCO declined by 16.88 percent, Conoil by 15.97 percent and PZ Cussons by 10.14 percent.
Also traded during the week by investors were a total of 1,115 units of Extended Traded Products (ETPs) valued at N165,837 executed in 3 deals compared with a total of 12,375 units valued at N6.223 million transacted a week earlier in 8deals.
In addition, a total of 756 units of Federal Government Bonds valued at N730,454.35 were traded last week in 7 deals compared with a total of 1.007 million units valued at N1.024 billion transacted the previous week in 14 deals.
