Market Capitalisation Closes at N15.3tr as Stocks Shed 1.13% in 5 Days

By Dipo Olowookere

The Nigerian Stock Exchange (NSE) closed on a negative note this week despite having three out of the five trading sessions ending positive.

The NSE All-Share Index and Market Capitalization depreciated by 1.13 percent to close at 42,638.83 points and N15.302 trillion respectively.

Similarly, all other indices finished lower during the week with the exception of the NSE Pension Index that appreciated by 0.08 percent while the NSE ASeM Index closed flat.

During the week, 30 equities appreciated in price, higher than 23 of the previous week, while 48 equities depreciated in price, lower than 64 equities of the previous week and 94 equities remained unchanged higher than 85 equities recorded in the preceding week.

Business Post reports that a total turnover of 2.940 billion shares worth N27.924 billion in 28,570 deals were traded this week by investors on the floor of the NSE in contrast to a total of 4.426 billion shares valued at N24.236 billion that exchanged hands last week in 29,573 deals.

The Financial Services Industry, measured by volume, led the activity chart with 2.174 billion shares valued at N17.033 billion traded in 19,013 deals; thus contributing 73.96 percent and 61 percent to the total equity turnover volume and value respectively.

The Services Industry followed with 232.482 million shares worth N216.990 million in 734 deals, while the third place was occupied by Conglomerates Industry with a turnover of 170.422 million shares worth N499.400 million in 1,578 deals.

Trading in the Top Three Equities namely–Linkage Assurance Plc, Skye Bank Plc and FCMB Group Plc (measured by volume) accounted for 809.798 million shares worth N1.130 billion in 2,551 deals, contributing 27.55 percent and 4.04 percent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 25,586 units of Exchange Traded Products (ETPs) valued at N3.004 million executed in 11 deals, compared with a total of 1.200 million units valued at N6.951 million that was transacted last week in 10 deals.

In addition, a total of 2,785 units of Federal Government Bonds valued at N2.627 million were traded this week in 16 deals, compared with a total of 14,779 units valued at N14.050 million transacted last week in 18 deals.