Nigerian bourse down 2.05% last week due to sell pressure

 

The Nigerian Stock Exchange (NSE)  All-Share Index and Market Capitalization depreciated by 2.05 per cent  and 2.06 per cent to close the week at 30,432.13 and N13.402 trillion respectively last week.

Similarly, all other indices depreciated with the exception of the NSE Premium Index, NSE-AFR Bank Value Index and NSE MERI Growth Index which appreciated by 1.07 per cent, 0.02 per cent and 0.05 per cent respectively.

Fifteen (15) equities appreciated in price during the week, lower than thirty-five (35) in the previous week. Forty-four (44) equities depreciated in price, higher than Twenty-four (24) equities of the previous week, while one hundred and nine (109) equities remained unchanged, the same as one hundred and nine (109) equities recorded in the preceding week.

Trading for the week was a brief one as the Federal Government of Nigeria declared Tuesday 4th and Wednesday 5th June 2019 as Public Holidays to mark the end of holy month of Ramadan and commemorate the Eid al-Fitr celebrations.

Meanwhile, a total turnover of 768.983 million shares worth N12.546 billion in 11,291 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.082 billion shares valued at N18.111 billion that exchanged hands last week in 16,400 deals.

The Financial Services Industry (measured by volume) led the activity chart with 578.032 million shares valued at N7.384 billion traded in 5,934 deals; thus contributing 75.17 per cent and 58.85 per cent to the total equity turnover volume and value respectively.

The Oil and Gas Industry followed with 55.229 million shares worth N1.486 billion in 1,111 deals. The third place was Conglomerates Industry with a turnover of 48.332 million shares worth N227.418 million in 470 deals.

Trading in the top-three equities namely, Guaranty Trust Bank, United Bank for Africa Plc, and First City Monument Bank (measured by volume) accounted for 329.929 million shares worth N5.341 billion in 1,427 deals, contributing 42.90 per cent and 42.57 per cent to the total equity turnover volume and value respectively.

There was no ETP traded during the week. However a total of 290,130 units valued at N3.935 million were executed in 16 deals last week.

A total of 23,941 units of Federal Government Bonds valued at N24.584 million were traded this week in 26 deals compared with a total of 1,057 units valued at N1.060 million transacted last week in 7 deals.