Stock Traders Lose N14b as Index Fall 1.98% in One Week

By Modupe Gbadeyanka

Traders in the Nigerian Stock Exchange (NSE) posted a loss this week as the major market indices pointed south.

The All-Share Index and Market Capitalization depreciated by 1.98 percent and 2.09 percent to close the week at 44,639.99 and N16.019 trillion respectively.

Similarly, all other indices finished higher during the week with the exception of the NSE-Main Board, NSE Consumer Goods and NSE Oil/Gas Indices that depreciated by 0.33 percent, 3.33 percent and 0.70 percent respectively while the NSE ASeM Index closed flat.

Business Post reports that during the week, a total turnover of 3.268 billion shares worth N28.123 billion in 35,761 deals were traded by investors on the floor of the NSE in contrast to a total of 7.157 billion shares valued at N42.545 billion that exchanged hands last week in 39,037 deals.

The Financial Services Industry (measured by volume) led the activity chart with 2.482 billion shares valued at N17.056 billion traded in 23,039 deals; thus contributing 75.96 percent and 60.65 percent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 375.113 million shares worth N1.047 billion in 1,968 deals. The third place was occupied by Consumer Goods Industry with a turnover of 262.198 million shares worth N6.843 billion in 5,921 deals.

Trading in the top three equities namely–FCMB Group Plc, Transnational Corporation of Nigeria Plc, and Skye Bank Plc (measured by volume) accounted for 1.181 billion shares worth N2.830 billion in 5,219 deals, contributing 36.14 percent and 10.06 percent to the total equity turnover volume and value respectively 49 equities appreciated in price during the week, higher than 30 of the previous week.

During the week too, 42 equities depreciated in price, lower than 44 equities of the previous week, while 81 equities remained unchanged lower than 98 equities recorded in the preceding week.

Also traded during the week were a total of 32,189 units of Exchange Traded Products (ETPs) valued at N1.299 million executed in 19 deals, compared with a total of 153,755 units valued at N1.883 million that was transacted last week in 11 deals.

A total of 16,268 units of Federal Government Bonds valued at N17.053 million were traded this week in 28 deals, compared with a total of 6,715 units valued at N5.318 million transacted last week in 15 deals.