Index Sheds 1.99% as NSE Records N12.3b Transactions

By Modupe Gbadeyanka

Performance across sectors of the Nigerian Stock Exchange (NSE) was mixed in the last trading week, which ended on Friday, July 7, 2017.

The All-Share Index (ASI) and the market capitalization depreciated by 1.99 percent and 2.31 percent to close the week at 32,459.17 and N11.187 trillion respectively.

Similarly, all other Indices finished lower during the week with the exception of the NSE Insurance and the NSE Industrial Goods Indices that appreciated by 1.10 percent and 0.22 percent while the NSE ASeM index closed flat.

During the week, a total turnover of 1.061 billion shares worth N12.295 billion in 18,847 deals were traded by investors in contrast to a total of 1.171 billion shares valued at N11.458 billion that exchanged hands the previous week in 13,763 deals.

The Financial Services Industry (measured by volume) led the activity chart with 802.195 million shares valued at N7.331 billion traded in 11,334 deals; thus contributing 75.62 percent and 59.63 percent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 109.378 million shares worth N174.604 million in 1,024 deals.

The third place was occupied by Consumer Goods Industry with a turnover of 62.992 million shares worth N2.405 billion in 3,021deals.

Trading in the Top Three Equities namely – Zenith International Bank Plc, Transnational Corporation of Nigeria Plc and FBN Holdings Plc (measured by volume) accounted for 317.099 million shares worth N3.223 billion in 3,823 deals, contributing 29.89 percent and 26.21 percent to the total equity turnover volume and value respectively.

Sixteen equities appreciated in price during the week, lower than 40 equities of the previous week and 51 equities depreciated in price, higher than 28 equities of the previous week, while 105 equities remained unchanged same as 105 equities recorded in the preceding week.

Also traded during the week were a total of 5 units of Exchange Traded Products (ETPs) valued at N484.85 executed in 1 deal compared with a total of 869,680 units valued at N19.150 million transacted last week in 16 deals.

Furthermore, a total of 358 units of Federal Government Bonds valued at N344,610.97 were traded this week in 7 deals, compared with a total of 7 units valued at N16,486.85 transacted last week in 1 deal.