Dipo Olowookere
The Nigerian Stock Exchange (NSE) closed bearish last week as the All-Share Index (ASI) recorded a week-on-week loss of 2.05 percent to settle at 30,432.13 points.
Business Post reports that it was a brief trading week as the Federal Government of Nigeria declared Tuesday and Wednesday as public holidays to mark the end of holy month of Ramadan and commemorate the Eidal-Fitr celebrations.
By the time the market closed the three-day trading sessions on Friday, the market capitalisation also experienced a slump, going down by 2.06 percent to close the week at N13.402 trillion.
Similarly, all other indices depreciated with the exception of the NSE Premium Index, NSE-AFR Bank Value Index and NSE MERI Growth Index, which appreciated by 1.07 percent, 0.02 percent and 0.05 percent respectively.
In the week, the market recorded a total turnover of 768.983 million shares worth N12.546 billion in 11,291 deals in contrast to a total of 1.082 billion shares valued at N18.111 billion that exchanged hands the previous week in 16,400 deals.
The financial services industry (measured by volume) led the activity chart with 578.032 million shares valued at N7.384 billion traded in 5,934 deals, contributing 75.17 percent and 58.85 percent to the total equity turnover volume and value respectively.
The oil and gas sector followed with 55.229 million shares worth N1.486 billion in 1,111 deals, while the third place was conglomerates industry with a turnover of 48.332 million shares worth N227.418 million in 470 deals.
Trading in GTBank, UBA and FCMB (measured by volume) accounted for 329.929 million shares worth N5.341 billion in 1,427 deals, contributing 42.90 percent and 42.57 percent to the total equity turnover volume and value respectively.
A total of 15 equities led by Champion Breweries appreciated in price during the week, lower than 35 in the previous week, while 44 equities led by NEM Insurance depreciated in price, higher than 24 equities of the previous week, with 109 equities remaining unchanged, same as 109 equities recorded in the preceding week.
Also traded during the week a total of 23,941 units of Federal Government Bonds valued at N24.584 million in 26 deals compared with a total of 1,057 units valued at N1.060 million transacted a week earlier in 7 deals.
However, there was no ETP traded during the week as against a total of 290,130 units valued at N3.935 million executed in 16 deals the previous week.
