Investors trade 1.4bn shares on 0.65% loss

Equities trading on the Nigerian Stock Exchange (NSE) continued a bearish walk as investors kept a cautious hand on the bourse, despite gains recorded from blue chip stocks within the week.

At the end of the seven-day trade, NSE All-Share Index and Market Capitalization depreciated by 0.65 per cent to close the week at 27,246.88 and N9.358 trillion respectively. Similarly, all other Indices finished lower during the week, with the exception of the NSE Industrial Goods Index that gained 0.66 per cent while the NSE ASeM Index closed flat.

A turnover of 1.361 billion shares worth N10.711 billion in 16,070 deals were traded this week by investors on the floor  of the Exchange in contrast to a total of 1.185 billion shares valued at N13.033 billion that exchanged hands last week in 18,548 deals.

A total of 18 equities appreciated in price during the week, lower than 22 equities of the previous week. 38 equities depreciated in price, lower than 40 equities of the previous week, while 124 equities remained unchanged higher than 118 equities recorded in the preceding week.

The Financial Services Industry (measured by volume) led the activity chart with 1.237 billion shares valued at N7.913 billion traded in 9,544 deals; thus contributing 90.87 per cent and 73.88 per cent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 46.182 million shares worth N77.192 million in 637 deals. The third place was occupied by the Consumer Goods Industry with a turnover of 38.102 million shares worth N1.372 billion in 2,907 deals.

The top-three equities that attracted investors were, Wapic Insurance Plc, FBN Holdings Plc and Guaranty Trust Bank Plc, as they accounted for 666.721 million shares worth N5.064 billion in 3,205 deals, contributing 48.99 per cent and 47.27 per cent to the total equity turnover volume and value respectively.

Also, traded during the week were a total of 1.003 million units of Exchange Traded Products (ETPs) valued at N12.116 million executed in 43 deals, compared with a total of 11,383 units valued at N128,168.98 transacted last week in 48 deals.

A total of 4,044 units of Federal Government Bonds valued at N4.062 million were traded in 6 deals compared to a total of 340 units of Federal Government Bonds valued at N370,066.80 transacted last week in one deal.