Market Breadth Closes Flat as Index Slightly up by 0.08%

NSE index falls

By Modupe Gbadeyanka

The market opened for four trading sessions this week, as the Federal Government of Nigeria declared Friday, March 30, 2018 (Good Friday) and Monday, April 2, 2018 (Easter Monday) as public holidays.

Meanwhile, a total turnover of 1.541 billion shares worth N16.647 billion in 18,805 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 2.328 billion shares valued at N28.927 billion that exchanged hands last week in 25,530 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.024 billion shares valued at N10.946 billion traded in 11,019 deals; thus contributing 66.44% and 65.75 % to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 213.704 million shares worth N3.053 billion in 2,693 deals.

The third place was occupied by Oil and Gas Industry with a turnover of 158.643 million shares worth N908.260 million in 1,897 deals.

Trading in the Top Three Equities namely–Zenith International Bank Plc, Champion Breweries Plc and Skye Bank Plc (measured by volume) accounted for 485.832 million shares worth N5.851 billion in 2,221 deals, contributing 31.53% and 35.15% to the total equity turnover volume and value respectively.

The NSE All-Share Index and Market Capitalization appreciated by 0.08% to close the week at 41,504.51 and N14.993 trillion respectively.

Similarly, all other indices finished lower during the week with the exception of the NSE Premium, NSE Consumer Goods, NSE Lotus II and NSE Pension Indices that appreciated by 1.15%, 1.73% 1.58% and 0.34% respectively.

During the week, 40 equities appreciated in price, higher than 33 of the previous week, while 40 equities depreciated in price, 49 equities of the previous week, and 91 equities remained unchanged higher than 89 equities recorded in the preceding week.

Also traded during the week were a total of 15,293 units of Exchange Traded Products (ETPs) valued at N254,840.00 executed in 16 deals, compared with a total of 4,165 units valued at N78,276.06 that was transacted last week in 15 deals.

In addition, a total of 21,583 units of Federal Government Bonds and  one State bond valued at N22.868 million were traded this week in 16 deals, compared with a total of 5,152 units valued at N4.562 million transacted last week in 24 deals.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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