Market closes the week 0.95% down

A turnover of 674.721 million shares worth N7.657 billion in 12,290 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.163 billion shares valued at N9.251 billion that exchanged hands last week in 14,992 deals.

The NSE All-Share Index and Market Capitalization depreciated by 0.95 per cent to close the week at 27,596.82 and N9.479 trillion respectively. Similarly, all other Indices finished lower during the week with the exception of the NSE Industrial Goods Index that appreciated by 0.52 per cent, while the NSE ASeM Index closed flat.

A total 16 equities appreciated in price during the week as against 22 of the previous week and 38 equities depreciated in price lower than 42 of the previous week, while 126 equities remained unchanged higher than 116 recorded in the preceding week.

The Financial Services Industry (measured by volume) led the activity chart with 495.992 million shares valued at N2.767 billion traded in 6,522 deals; thus contributing 73.51 per cent and 36.14 per cent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 80.885 million shares worth N95.212 million in 536 deals. The third place was occupied by the Construction/Real Estate Industry with a turnover of 32.484 million shares worth N18.498 million in 70 deals.

Trading in the top-three equities namely – Law Union & Rock Insurance Plc, Ecobank Transnational Incorporated and Transnational Corporation of Nigeria Plc (measured by volume) accounted for 263.199 million shares worth N1.033 billion in 637 deals, contributing 39.01 per cent and 13.49 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 10,779 units of Exchange Traded Products (ETPs) valued at N63,890.18 executed in 22 deals, compared with a total of 119,743 units valued at N600,589.51 transacted last week in 25 deals.

A total of 1,700 units of Federal Government Bonds valued at N1.518 million were traded in one deal compared to a total of 1,510 units of Federal Government Bonds valued at N1.558 million transacted last week in one deal.