Nigerian bourse still bearish, down 1.27% for the week

The NSE All-Share Index and Market Capitalization depreciated by 1.27 per cent to close the week at 30,046.70 and N13.233 trillion respectively.

Similarly, all other indices depreciated with the exception of the NSE Banking Index, NSE Insurance Index, NSE-AFR Bank Value Index and NSE Oil/Gas Index which appreciated by 0.01 per cent, 0.86 per cent, 0.23 per cent and 0.28 per cent respectively while NSE ASeM Index closed flat.

In all, 19 equities appreciated in price during the week, higher than 15 in the previous week while 31 depreciated in price, lower than 44 of the previous week. Also, 118 equities remained unchanged, higher than 109 recorded in the preceding week.

The market had a four-day trading week as the Federal Government of Nigeria declared Wednesday 12th June, 2019 as Public Holiday to mark the Democracy Day celebrations.

Meanwhile, a turnover of 868.739 million shares worth N15.792 billion in 12,201 deals were traded in the week by investors on the floor of the Exchange in contrast to a total of 768.983 million shares valued at N12.546 billion that exchanged hands last week in 11,291 deals.

As usual, the Financial Services Industry (measured by volume) led the activity chart with 674.654 million shares valued at N9.295 billion traded in 6,651 deals; thus contributing 77.66 per cent and 58.86 per cent to the total equity turnover volume and value respectively.

The ICT Industry followed with 69.205 million shares worth N3.352 billion in 769 deals. The third place was Consumer Goods Industry with a turnover of 51.550 million shares worth N2.342 million in 1,915 deals.

Trading in the top-three equities namely, Guaranty Trust Bank, Zenith Bank Plc, and Wapic Insurance Plc (measured by volume) accounted for 359.451 million shares worth N7.774 billion in 2,252 deals, contributing 41.38% and 49.23% to the total equity turnover volume and value.

A total of 2,163 units valued at N354,065.06 were traded this week in 6 deals. There was no trade recorded last week.

A total of 235 units of Federal Government Bonds valued at N229,216.74 were traded this week in 14 deals compared with a total of 23,941units valued at N24,584 million transacted last week in 26 deals.