Equities market depreciates marginally by 0.01%WoW, as Access Banks leads activity chart

The Nigerian Stock Exchange (NSE), market indicator, All-Share Index and Market Capitalisation depreciated by 0.01 per cent to close the week at 31,139.35 and N11.612 trillion respectively.

During the seven day trading which was bearish save or Friday’s, a total turnover of 1.198 billion shares worth N12.273 billion in 18,293 deals were traded by investors on the floor of the Exchange in contrast to a total of 1.113 billion shares valued at N13.465 billion that exchanged hands last week in 15,036 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.014 billion shares valued at N9.693 billion traded in 12,165 deals; thus contributing 84.63 per cent and 78.98 per cent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 58.049 million shares worth N1.398 billion in 2,689 deals. The third place was Conglomorates Industry with a turnover of 46.272 million shares worth N103.316 million in 626 deals.

Trading in the Top Three Equities namely, Access Bank Plc, Zenith Bank Plc and United Bank for Africa Plc (measured by volume) accounted for 651.600 million shares worth N6.294 billion in 6,505 deals, contributing 54.39 per cent and 51.28 per cent to the total equity turnover volume and value respectively. Rally in Access Bank Shares is unconnected from the merger between the bank and Diamond Bank PLC, which received a nod from the Judiciary during the week.

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Similarly, all other indices finished lower with the exception of the NSE CG, NSE Premium, NSE ASeM, NSE Banking, NSE-AFR Bank Value, NSE AFR Div Yield, NSE Industrial Goods and NSE Pension indices which appreciated by 0.66%, 0.27%, 0.55%, 3.82%, 4.76%, 2.97%, 2.42% and0.71% respectively.

Thirty-two (32) equities appreciated in price during the week, higher than eighteen (18) in the previous week. Thirty-eight (38) equities depreciated in price, lower than forty-five (45) equities of the previous week, while ninety-eight (98) equities remained unchanged lower than one hundred and five (105) equities recorded in the preceding week.