NSE Records Rise in Weekly Turnover Despite 1.99% Loss

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By Modupe Gbadeyanka

The total volume of shares transacted on the floor of the Nigerian Stock Exchange (NSE) last week increased despite the week-on-week decline in the market’s performance.

The All-Share Index (ASI) and market capitalisation both depreciated in the week by 1.99 percent to close at 24,336.12 points and N12.695 trillion respectively.

This was despite the rise in the total turnover of 961.8 million stocks worth N9.2 billion traded in 20,058 deals in the week by investors, in contrast to the previous week’s 739.4 million equities worth N8.6 billion transacted in 17,248 deals.

A breakdown showed that the financial services industry (measured by volume) led the activity chart with 618.7 million units valued at N4.3 billion traded in 9,669 deals, contributing 64.33 percent and 47.25 percent to the total equity turnover volume and value respectively.

The consumer goods sector followed with 91.1 million shares worth N2.2 billion in 3,703 deals, while the conglomerates industry exchanged 60.6 million shares worth N62.8 million in 556 deals.

Shares of FBN Holdings, GTBank and UBA were the most active in the week, with the trio trading 275.1 million shares worth N2.8 billion in 3,497 deals, contributing 28.60 percent and 30.69 percent to the total equity turnover volume and value respectively.

On the price movement chart, 13 equities appreciated in price during the week, lower than 18 equities in the previous week, while 59 equities depreciated in price, higher than 43 equities in the previous week, with 91 equities closing flat, lower than 102 equities recorded in the previous week.

NAHCO was the worst-performing stock, losing 24.24 percent to close at N2 per share, while Learn Africa lost 21.48 percent to end at N1.06 per share.

Unilever Nigeria depreciated by 18.82 percent to close at N13.80 per share, GlaxoSmithKline fell by 15.38 percent to finish at N4.95 per share, while Union Bank lost 15.08 percent to end at N5.35 per share.

The best performing stock in the five-day trading week, appreciating by 20.94 percent to close at N77.40 per share.

Royal Exchange gained 13.04 percent to finish at 26 kobo per share, Prestige Assurance grew by 10.64 percent to close at 52 kobo per share, Neimeth gained 9.49 percent to end at N1.50 per share, while Academy Press appreciated by 6.67 percent to close at 32 kobo per share.

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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