Trading activities on the floor of the Nigerian Stock Exchange dropped by 0.92 per cent last week, dashing investors’ hope of a possible rally.
The two market indicators, NSE All-Share Index and market capitalisation, on Friday closed at 34,388.21 and N11.678tn respectively, as the market witnessed five days of consecutive losses.
Similarly, five indices finished lower during the week with the exception of the NSE Banking, NSE Insurance and NSE Industrial Goods indices that rose by 2.02 per cent, 0.57 per cent and 1.42 per cent respectively.
A weekly report by the NSE read in part, “A turnover of 1.584 billion shares worth N20.151bn in 23,279 deals were traded last week by investors on the floor of the Nigerian Stock Exchange in contrast to a total of 1.169 billion shares valued at N11.961bn that exchanged hands the previous week in 17,769 deals.
“The financial services industry led the activity chart with 1.088 billion shares valued at N8.991bn traded in 13,220 deals; thus contributing 68.66 per cent and 44.62 per cent to the total equity turnover volume and value respectively.
“The conglomerates industry followed with a turnover of 227.840 million shares worth N920.617m in 1,082 deals. The third place was occupied by the consumer goods industry with 121.859 million shares worth N7.703bn in 4,123 deals.”
The report noted that trading in the top three equities namely, United Bank for Africa Plc, Transnational Corporation of Nigeria Plc and Access Bank Plc accounted for 678.964 million shares worth N3.247bn in 2,943 deals, contributing 42.85 per cent and 16.11 per cent to the total equity turnover volume and value respectively.
The report showed that a total of 1.388 million units of Exchange Traded Products valued at N31.490m were executed in 47 deals last week compared with a total of 11,737 units valued at N1.799m that were transacted in 15 deals the previous week.
In the same vein, a total of 4,569 units of Federal Government Bonds valued at N4.966m were traded last week in two deals compared to a total of 330 units of Federal Government Bonds valued at N370,698.04 transacted the previous week in two deals.
Source : Punch