Equities trading goes down 2.6%

Nigeria’s equities market lead indicator, the NSE All-Share Index closed the week with a depreciation of 2.65 per cent to close at 35,005.57 points.

The market capitalisation also closed N325.5 billion lower than last week’s closing figure as market cap fell 2.63 per cent to settle at N12.068 trillion.

Total turnover traded in 17,048 deals, grew by one per cent to 896.618 million shares, the total value of stocks traded dropped 12 per cent to N15.368 billion against previous week’s value that stood at N17.450 billion exchanged in 16,955 deals..

The week ended with Diamond Bank Plc, Zenith International Bank Plc, Guaranty Trust Bank Plc, as the topmost traded equities by volume.

They accounted for 336.181 million shares worth N5.680 billion in 2,936 deals, contributing 37.49 per cent and 36.96 per cent to the total equity turnover volume and value respectively.

A summary of price movement chart showed NEM insurance topped 23 equities that appreciated in price during the week, lower than 28 of the previous week. Neimeth Pharmaceuticals led 45 equities that depreciated in price, higher than 38 equities of the previous week, while 104 equities remained unchanged lower than 105 equities recorded in the preceding week.

An analysis for the week by the Nigerian Stock Exchange revealed that in terms of volume traded, the Financial Services Industry led the activity chart with 708.046 million shares valued at N7.793 billion traded in 9,164 deals; thus contributing 78.97 per cent and 50.71 per cent to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 56.502 million shares worth N5.509 billion in 3,414 deals. The third place was occupied by Conglomerates Industry with a turnover of 32.439 million shares worth N106.687 million in 744 deals.