By Kayode Tokede
Following profit-taking in some mid-low capitalized stocks, the equities market of The Nigerian Stock Exchange (NSE) depreciated by 0.06 per cent after a 4-day trading activities.
The federal government had declared May 1, 2018 public holiday to mark the Workers Day celebration.
The market indicators, The NSE All-Share Index dropped by 26.17 basis points to 41,218.72 basis points from 41,244.89 basis points while market capitalization depreciated by N9 billion to N14.931 trillion from N14.9 trillion the market opened for trading.
As the result, the Month-to-Date and Year-to-Date returns stood at -0.06per cent and +7.49 per cent respectively
All other indices finished lower with the exception of NSE Premium, NSE Banking, NSE Industrial goods, and NSE Pension indices that appreciated by 0.12per cent, 1.56per cent, 1.06per cent and 0.21per cent respectively, while the NSE ASeM closed flat at 958.52 basis points.
According to the NSE weekly report, a total turnover of 1.331billion shares worth N20.835 billion in 18,695 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.825 billion shares valued at N24.653 billion that exchanged hands last week in 23,148 deals.
The report stated that, the Financial Services Industry (measured by volume) led the activity chart with 1.042 billion shares valued at N11.275 billion traded in 9,665 deals; thus contributing 78.32per cent and 54.11per cent to the total equity turnover volume and value respectively.
“The Consumer Goods Industry followed with 84.124 million shares worth N4.322 billion in 3,691 deals. The third place was occupied by Oil and Gas Industry with a turnover of 51.918 million shares worth N596.463 million in 2,307 deals.
“Trading in the Top Three Equities namely – United Bank for Africa Plc, Mutual Benefits Assurance Plc and Access Bank Plc (measured by volume) accounted for 457.930 million shares worth N3.784 billion in 1,469 deals, contributing 34.41per cent and 18.16per cent to the total equity turnover volume and value respectively.”
A total of 37 equities appreciated in price during the week, higher than 33 in the previous week. 32 equities depreciated in price, lower than 41 equities in the previous week, while 100 equities remained unchanged, higher than 95 equities recorded in the preceding week.
The report stated that, “a total volume of 8,905,003 units of 13.53% FGN MAR 2025 Bond was admitted on the Daily Official List of The Exchange on the 3rd of May, 2018. The 8,905,003 units were offered at N1,000 per unit with total amount of N8,905,003,000 realized.”
“Traded last week were a total of 709,058 units of Exchange Traded Products (ETPs) valued at N3.845 million executed in 10 deals, compared with a total of 56,260 units valued at N376,387.48 that was transacted last week in 6 deals.
“A total of 80,152 units of Federal Government and State Bonds valued at N82.543 million were traded this week in 14 deals, compared with a total of 725 units valued at N660,984.55 transacted last week in 10 deals.”
Analysts at Cordros Capital, said, “We look for return of gains on the bourse in the medium to long term, amidst fast-declining yields in the alternative fixed income market; more so, as macroeconomic fundamentals continue to impress.”