Nigerian bourse continues bearish run as Index down 0.65% for the week

The All-Share Index and Market Capitalization of The Nigerian Stock Exchange (NSE) depreciated by 0.65 per cent and 0.59 per cent respectively to close the week at 29,851.29 and N13.155 trillion respectively.

All other indices finished higher with the exception of the NSE-Main Board Index, NSE Premium Index, NSE MERI Growth Index, NSE Consumer Goods Index and NSE Lotus II which depreciated by 0.49 per cent, 0.77 per cent, 0.83 per cent, 1.64 per cent and 1.54 per cent respectively while NSE ASeM Index closed flat.

Thirty-four (34) equities appreciated in price during the week, higher than Nineteen (19) in the previous week. Thirty-three (33) equities depreciated in price, higher than Thirty-one (31) equities of the previous week, while one hundred and one (101) equities remained unchanged, lower than one hundred and eighteen (118) equities recorded in the preceding week.

A turnover of 7.476 billion shares worth N91.107 billion in 17,192 deals were traded during the week by investors on the floor of the Exchange in contrast to a total of 868.739 million shares valued at N15.792 billion that exchanged hands last week in 12,201 deals.

The Financial Services Industry (measured by volume) led the activity chart with 6.121 billion shares valued at N17.460 billion traded in 8,479 deals; thus contributing 81.87 per cent and 19.16 per cent to the total equity turnover volume and value respectively. The Oil & Gas Industry followed with 1.002 billion shares worth N65.058 billion in 2,019 deals. The third place was ICT Industry with a turnover of 115.320 million shares worth N3.387 billion in 866 deals.

Trading in the top-three equities namely, Wema Bank Plc, Forte Oil Plc and Zenith Bank Plc (measured by volume) accounted for 6.573 billion shares worth N77.492 billion in 2,895 deals, contributing 87.91 per cent and 85.06 per cent to the total equity turnover volume and value respectively.

A total of 662 units ETPs valued at N990,530.00 were traded this week in 4 deals compared with a total of 2,163 units valued at N354,065.06 that was transacted last week in 6 deals.

A total of 21,682 units of Federal Government Bonds valued at N22.552 million were traded this week in 29 deals compared with a total of 235 units valued at N229,216.74 transacted last week in 14 deals.