Market closes the week 2% down

The NSE All-Share Index and Market Capitalization depreciated by 2.00 per cent and 1.84 per cent to close the week at 25,802.54 and N8.892 trillion respectively.

Similarly, all other Indices finished lower during the week with the exception of the NSE Premium Index and NSE Industrial Goods Indices that appreciated by 0.15 per cent and 4.37 per cent respectively, while the NSE ASem Index closed flat.

Twenty-three (23) equities appreciated in price during the week, lower than twenty-nine (29) equities of the previous week. Thirty-seven (37) equities depreciated in price, higher than thirty (30) equities of the previous week, while one hundred and fifteen (115) equities remained unchanged lower than one hundred and sixteen (116) equities recorded in the preceding week.

A total turnover of 1.153 billion shares worth N8.032 billion in 12,783 deals were traded last  week by investors on the floor of the Exchange in contrast to a total of 990.584 million shares valued at N18.823 billion that exchanged hands last week in 14,917 deals.

The Financial Services Industry (measured by volume) led the activity chart with 841.221 million shares valued at N3.065 billion traded in 7,102 deals; thus contributing 72.93 per cent and 38.16 per centto the total equity turnover volume and value respectively.

The Services Industry followed with 91.826 million shares worth N139.497 million in 265 deals. The third place was occupied by Industrial Goods Industry with a turnover of 67.010 million shares worth N247.141 million in 510 deals.

Trading in the top-three equities namely – Continental Reinsurance Plc, FBN Holdings Plc and Medview Airline Plc (measured by volume) accounted for 381.262 million shares worth N788.588 million in 1,008 deals, contributing 33.05 per cent and 9.82 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 310 units of Exchange Traded Products (ETPs) valued at N19,292.65 executed in 10 deals, compared with a total of 8,519 units valued at N527,483.35 transacted last week in 10 deals.

A total of 100 units of Federal Government Bonds valued at N106,155.39 were traded this week in 1 deal, compared with a total of 59,299 units valued at N56.379 million transacted last week in 6 deals.