Market down by 3% as investors stake N7.42bn for the week

A turnover of 2.847 billion shares worth N7.420 billion in 16,065 deals were traded this week by investors on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of 873.838 million shares valued at N8.024 billion that exchanged hands last week in 15,944 deals.

The NSE All-Share Index and Market Capitalization depreciated by 3.0 per cent to close the week at 26,170.88 and N9.009 trillion respectively.

Similarly, all other Indices finished lower during the week while the NSE ASeM Index closed flat Eighteen (18) equities appreciated in price during the week, lower than twenty- four (24) equities of the previous week.

Thirty-six (36) equities depreciated in price, lower than thirty-seven (37) equities of the previous week, while one hundred and twenty-seven (127) equities remained unchanged higher than one hundred and twenty (120) equities recorded in the preceding week.

The Financial Services Industry (measured by volume) led the activity chart with 2.632 billion shares valued at N4.935 billion traded in 10,882 deals; thus contributing 92.48 per cent and 66.51 per cent to the total equity turnover volume and value respectively.

The ICT Industry followed with 105.401 million shares worth N52.702 million in 11 deals. The third place was occupied by the Conglomerates Industry with a turnover of 36.495 million shares worth N44.162 million in 446 deals.

Trading in the top-three equities namely – Standard Alliance Insurance Plc, Chams Plc and Guaranty Trust Bank Plc (measured by volume) accounted for 2.310 billion shares worth N3.005 billion in 1,825 deals, contributing 81.16 per cent and 40.49 per cent to the total equity turnover volume and value respectively.

Also, traded during the week were a total of 5,080 units of Exchange Traded Products (ETPs) valued at N62,550.75 executed in 17 deals, compared with a total of 56,688 units valued at N817,310.72 transacted last week in 31 deals.

A total of 73,694 units of Federal Government Bonds valued at N80.177 million were traded in 9 deals compared to a total of 13,020 units of Federal Government Bonds valued at N12.953 million transacted last week in 14 deals.