Nigerian bourse ends the week down by 4.99% to bargain hunting

The NSE All-Share Index and Market Capitalization of the Nigerian Stock Exchange(NSE) depreciated by 4.99 per cent to close the week at 32,122.14 and N11.108 trillion respectively this week.
Similarly, all other Indices finished lower during the week with the exception of the NSE ASeM Index that appreciated by 0.08% respectively.
Total 23 equities appreciated in price during the week; lower than 38 of the previous week while 52 equities depreciated in price, higher than 42 of the previous week and another 98 equities remained unchanged higher than 93 equities recorded in the preceding week.
A turnover of 2.311 billion shares worth N24.577 billion in 27,836 deals were traded this week by investors on the floor of the Nigerian Stock Exchange(NSE) in contrast to a total of 2.737 billion shares valued at N32.042 billion that exchanged hands last week in 32,217 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.783 billion shares valued at N15.865 billion traded in 15,948 deals; thus contributing 77.17 per cent and 64.55 per cent to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 239.226 million shares worth N571.910 million in 1,251 deals. The third place was occupied by Consumer Goods Industry with a turnover of 85.663 million shares worth N4.522 billion in 3,673 deals.
Trading in the top-three equities namely – Zenith International Bank Plc, Transnational Corporation of Nigeria Plc and FBN Holdings Plc (measured by volume) accounted for 665.483 million shares worth N6.695 billion in 5,649 deals, contributing 28.80 per cent and 27.24 per cent to the total equity turnover volume and value respectively.
Also traded during the week were a total of 63,927 units of Exchange Traded Products (ETPs) valued at N841,330.04 executed in 11 deals compared with a total of 16,300 units valued at N973,376.00 transacted last week in 3 deals.
A total of 2,212 units of Federal Government Bonds valued at N2.098 million were traded this week in 7 deals, compared with a total of 12,193 units valued at N12.440 million transacted last week in 14 deals.