Market records N435bn value erosion
Investors in equities on the Nigerian Stock Exchange (NSE) recorded a value depreciation of N435 billion in the four-day trading week as the Market Capitalization which opened the week at N9.926 trillion depreciated by 4.39 per cent to close N9.491 trillion even as All-Share Index closed at 27,634.42.
It was a four-day trading week as the Federal Government of Nigeria declared Monday 30th May, 2016 as Public Holiday to commemorate “Democracy Day”.
A total of 12 equities appreciated in price during the week, lower than 56 equities of the previous week while 60 equities depreciated in price, higher than 20 of the previous week, while 108 equities remained unchanged higher than 104 equities of the previous week.
A turnover of 1.263 billion shares worth N11.583 billion in 17,434 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 2.338 billion shares valued at N14.789 billion that exchanged hands last week in 24,942 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.024 billion shares valued at N5.983 billion traded in 10,686 deals; thus contributing 81.07 per cent and 51.65 per cent to the total equity turnover volume and value respectively.
The Consumer Goods Industry followed with 83.240 million shares worth N3.595 billion in 2,650 deals. The third place was occupied by the Conglomerates Industry with a turnover of 74.979 million shares worth N121.593 million in 715 deals.
Trading in the top-three equities namely – United Bank For Africa Plc, FBN Holdings Plc and Zenith International Bank Plc.(measured by volume) accounted for 418.707 million shares worth N2.858 billion in 4,405 deals, contributing 33.14 per cent and 24.68 per cent to the total equity turnover volume and value respectively.
Also traded during the week were a total of 6,500 units of Exchange Traded Products (ETPs) valued at N117,637.20 executed in 24 deals, compared with a total of 537,969 units valued at N56.655 million transacted last week in 43 deals.
A total of 151,970 units of Federal Government and Corporate Bonds valued at N170.962 million were traded in 5 deals compared to a total of 4,000 units of Federal Government valued at N4.438 million transacted last week in 8 deals.
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