NSE Index Drops 0.06% as 37 Stocks Appreciate in Price in Four Days

NSE index falls

By Dipo Olowookere

A total of 37 equities appreciated in price this week higher than 33 in the previous week, Business Post reports.

Also, 32 equities depreciated in price lower than 41 equities in the previous week, while 100 shares remained unchanged higher than 95 equities recorded in the preceding week.

Business Post reports further that it was a four-day trading sessions this week as the Federal Government of Nigeria declared Tuesday, May 1, 2018 a public holiday to mark the Workers Day  celebration.

At the close of the week at the Nigerian Stock Exchange (NSE), the All-Share Index (ASI) and market capitalization depreciated by 0.06 percent to close the week at 41,218.72 and N14.931 trillion respectively.

Similarly, all other indices finished lower with the exception of NSE Premium, NSE Banking, NSE Industrial goods, and NSE Pension indices that appreciated by 0.12 percent, 1.56 percent, 1.06 percent and 0.21 percent respectively, while the NSE ASeM closed flat.

It was observed that a total turnover of 1.331 billion shares worth N20.835 billion in 18,695 deals were traded this week by investors on the floor of the NSE in contrast to a total of 1.825 billion shares valued at N24.653 billion that exchanged hands last week in 23,148 deals.

The Financial Services Industry measured by volume led the activity chart with 1.042 billion shares valued at N11.275 billion traded in 9,665 deals; contributing 78.32 percent and 54.11 percent to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 84.124 million shares worth N4.322 billion in 3,691 deals, while the third place was occupied by Oil and Gas Industry with a turnover of 51.918 million shares worth N596.463 million in 2,307 deals.

Trading in the top three equities namely – United Bank for Africa Plc, Mutual Benefits Assurance Plc and Access Bank Plc measured by volume accounted for 457.930 million shares worth N3.784 billion in 1,469 deals, contributing 34.41 percent and 18.16 percent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 709,058 units of Exchange Traded Products (ETPs) valued at N3.845 million executed in 10 deals, compared with a total of 56,260 units valued at N376,387.48 that was transacted last week in 6 deals.

In addition, a total of 80,152 units of Federal Government and State Bonds valued at N82.543 million were traded this week in 14 deals, compared with a total of 725 units valued at N660,984.55 transacted last week in 10 deals.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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