Equities market post 0.95% loss, sheds N1.6bn in 7 days

Last week, equities investors maintained a cautious hand as a turnover of 674.721 million shares worth N7.657 billion in 12,290 deals were traded on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of 1.163 billion shares valued at N9.251 billion that exchanged hands in the preceding week in 14,992 deals.

The NSE All-Share Index and Market Capitalisation depreciated by 0.95 per cent to close the week at 27,596.82 and N9.479 trillion respectively, as it’s Week to Date (WtD) stands at -0.95 per cent.

The Financial Services Industry were the toast of investors during the week as it led the activity chart with 495.992 million shares valued at N2.767 billion traded in 6,522 deals; thus contributing 73.51 per cent and 36.14 per cent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 80.885 million shares worth N95.212 million in 536 deals. The third place was occupied by the Construction/Real Estate Industry with a turnover of 32.484 million shares worth N18.498 million in 70 deals.

Trading in the Top Three Equities were Law Union & Rock Insurance Plc, Ecobank Transnational Incorporated and Transnational Corporation of Nigeria Plc (measured by volume), having accounted for 263.199 million shares worth N1.033 billion in 637 deals, contributing 39.01 per cent and 13.49 per cent to the total equity turnover volume and value respectively.

Similarly, all other Indices finished lower during the week with the exception of the NSE Industrial Goods Index that appreciated by 0.52 per cent, while the NSE ASeM Index closed flat.

16 equities appreciated in price during the week, lower than 22 equities of the previous week. 38 equities depreciated in price, lower than 42 equities of the previous week, while 126 equities remained unchanged higher than 116 equities recorded in the preceding week.