Trading activities at the Nigerian bourse decline

The activity level at the Nigerian bourse last week was unimpressive as the volume and value of shares traded declined when compared to the previous week.

Notably, a total turnover of 887.037 million shares worth N9.193 billion in 17,837 deals were traded by investors on the floor of the Exchange, in contrast to a total of 1.445 billion shares valued at N19.039 billion that exchanged hands in the previous week in 17,400 deals.

Thus, trading volumes and value declined by 38.6 per cent Week-on-Week (WoW)  and 51.7 per cent WoW, respectively.

The Financial Services Industry led the activity chart with 607.224 million shares valued at N6.066 billion traded in 10,125 deals; thus contributing 68.46 per cent and 65.99 per cent to the total equity turnover volume and value, respectively.

The Conglomerates Industry followed with 112.318 million shares worth N572.831 million in 1,450 deals. The third place was Oil and Gas Industry, with a turnover of 57.662 million shares worth N201.453 million in 1,107 deals.

It was a tranquil trading week as the marginal gains recorded in the last three trading days could not offset the loss on the second trading day of the week. Against this backdrop, the bears regained control of the market after conceding to the bulls in the prior week.

Consequently, the All-Share Index declined by 0.13 per cent WoW to close at 38,866.39 basis points. As a result, the Year to Date loss rose to -3.7 per cent.

Notably, profit-taking in large-cap stocks such as Guaranty Trust Bank, WAPCO, BUA Cement and Zenith Bank drove the weekly loss as they declined by 3.5 per cent, 3.0 per cent, 1.0 per cent, 0.7 per cent, respectively.

Sectoral performance was broadly negative, as the Consumer Goods index emerged as the week’s sole gainer. The Banking index led the losers’ chart, followed by Insurance, Industrial Goods, and Oil and Gas indices.

Zenith Bank Plc, Access Bank Plc and Guaranty Trust Bank Plc accounted for 259.248 million shares worth N4.818 billion in 4,970 deals, contributing 29.23 per cent and 52.41 per cent to the total equity turnover volume and value, respectively.

 

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