Modupe Gbadeyanka
By Modupe Gbadeyanka
It was another four-day trading week as the Federal Government of Nigeria declared Wednesday, May 1, 2019 a public holiday to mark the Workers Day celebrations.
During the week, a total turnover of 1.470 billion shares worth N15.498 billion in 18,092 deals were traded by investors on the floor of the Nigerian Stock Exchange (NSE).
This was in contrast to a total of 1.432 billion shares valued at N15.089 billion that exchanged hands last week in 15,342 deals.
A further analysis of the transactions indicated that stocks in the financial services sector led the activity chart with 610.138 million shares valued at N5.828 billion traded in 8,012 deals, contributing 41.50 percent and 37.61 percent to the total equity turnover volume and value respectively.
It was followed by equities in the conglomerates industry with 227.766 million shares worth N777.211 million in 1,558 deals, and consumer goods shares with a turnover of 154.760 million shares worth N4.496 billion in 3,622 deals.
In addition, trading in the Transnational Corporation of Nigeria Plc (Transcorp), Cement Company of Northern Nigeria Plc (CCNN) and Japaul Oil & Maritime Services Plc accounted for 403.650 million shares worth N2.103 billion in 1,124 deals, contributing 27.46 percent and 13.57 percent to the total equity turnover volume and value respectively.
In the week, a total of 32 equities appreciated in price higher than 30 in the previous week, while 44 equities depreciated in price, higher than 40 equities of the previous week, with 92 equities remaining unchanged, lower than 97 equities recorded in the preceding week.
An analysis of the major market indices showed that while the All-Share Index (ASI) depreciated by 1.78 percent, the market capitalisation decreased by 1.77 percent to close the week at 29,212.00 points and N10.979 trillion respectively.
Similarly, all other indices finished lower with the exception of the NSE Pension, NSE Insurance and
NSE Oil/Gas Indices that rose by 0.49 percent 1.30 percent and 0.02 percent respectively.
Apart from stocks, investors also traded Exchange Traded Products (ETPs) and a total of 1.190 million units valued at N10.967 were transacted in 12 deals compared with a total of 4,800 units valued at N45,578.70 exchanged last week in 9 deals.
In addition, a total of 14,589 units of Federal Government Bonds valued at N15.164 million were traded this week in 12 deals compared with a total of 41,150 units valued at N43.977 million transacted last week in 11 deals.
