Stock Market Value Drops by N236b in 5 Days as Index Sheds 1.71%

July 8, 2018
Stock Market Value Drops by N236b in 5 Days as Index Sheds 1.71%

By Dipo Olowookere

The total value of equities listed on the Nigerian Stock Exchange (NSE) depreciated by N236 billion last week as the market witnessed both profit-taking and bargain hunting activities during the five trading sessions.

Business Post reports that the The All-Share Index and market capitalization depreciated by 1.71 percent in the week to close at 37,625.59 points and N13.630 trillion respectively against the 38,278.55 points and N13.866 trillion they ended in the previous week.

Similarly, all other indices finished lower with the exception of the NSE Insurance Index that appreciated by 0.53 percent.

At the close of transactions on Friday, a total turnover of 1.842 billion shares worth N16.594 billion in 18,941 deals were traded in the week by investors in contrast to a total of 2.004 billion shares valued at N21.582 billion that exchanged hands a week earlier in 18,534 deals.

Like in the previous trades, the Financial Services Industry, measured by volume, led the activity chart with 1.018 billion shares valued at N10.906 billion traded in 10,092 deals; thus contributing 55.28 percent and 65.72 percent to the total equity turnover volume and value respectively.

The Services Industry followed with 313.481 million shares worth N1.861 billion in 782 deals, while the third place was occupied by Natural Resources Industry with a turnover of 304.922 million shares worth N61.366 million in 82 deals.

Trading in the top three equities namely; United Bank for Africa Plc, Multiverse Mining and Exploration Plc and Nigerian Aviation Handling Company Plc, measured by volume, accounted for 912.300 million shares worth N5.308 billion in 1,025 deals, contributing 49.53 percent and 31.99 percent to the total equity turnover volume and value respectively.

During the week, a total of 27 equities appreciated in price, lower than 32 in the previous week, while 45 stocks depreciated in price, higher than 39 equities of the previous week, and 97 shares remained unchanged lower than 98 equities recorded in the preceding week.

Also traded during the week were a total of 25,220 units of Exchange Traded Products (ETPs) valued at N454,438.90 executed in 4 deals, compared with a total of 4,211 units valued at N96,115.90 that was transacted last week in 18 deals.

In addition, a total of 2,359 units of Federal Government valued at N2.188 million were traded in the week in 24 deals, compared with a total of 6,108 units valued at N3.710 million transacted the previous week in 13 deals.

Dipo Olowookere

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 [email protected]

Leave a Reply

Finance Minister Kemi Adeosun in NYSC Certificate Forgery Scandal
Previous Story

Finance Minister Kemi Adeosun in NYSC Certificate Forgery Scandal

GTBank Raises Spending Limit on Naira MasterCard for Int'l Transactions to $3000
Next Story

GTBank Raises Spending Limit on Naira MasterCard for Int’l Transactions to $3000

Latest from Economy

Don't Miss