By Kayode Tokede
A turnover of 1.586 billion shares worth N25.992 billion in 21,115 deals were traded this week by investors on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of 1.331 billion shares valued at N20.835 billion that exchanged hands last week in 18,695 deals.
The NSE All-Share Index and Market Capitalization depreciated by 0.48 per cent to close the week at 41,022.31 and N14.860 trillion respectively.
Similarly, all other indices finished lower with the exception of NSE Premium, NSE Banking, NSE Insurance, NSE Oil/Gas and NSE Lotus II indices that appreciated by 0.35per cent, 0.45 per cent, 0.83per cent, 0.13per cent and 0.34per cent respectively while the NSE ASeM closed flat.
About 35 equities appreciated in price during the week, lower than 37 in the previous week. 49 equities depreciated in price, higher than 32 equities of the previous week, while 85 equities remained unchanged lower than 100 equities recorded in the preceding week.
The Financial Services Industry (measured by volume) led the activity chart with 1.360 billion shares valued at N20.378 billion traded in 11,936 deals; thus contributing 85.80per cent and 78.40per cent to the total equity turnover volume and value respectively.
The Consumer Goods Industry followed with 52.727 million shares worth N2.125 billion in 3,301 deals. The third place was occupied by Oil and Gas Industry with a turnover of 50.092 million shares worth N783.716 million in 2,153 deals.
Trading in the top-three equities namely – FCMB Plc, Guaranty Trust Bank Plc And Zenith Bank International Plc (measured by volume) accounted for 745. 049 million shares worth N17.507 billion in 2,757 deals, contributing 46.69per cent and 67.36per cent to the total equity turnover volume and value respectively.
Also traded last week were a total of 444,190 units of Exchange Traded Products (ETPs) valued at N2.514 million executed in 11 deals.
A total of 7,647 units of Federal Government valued at N8.047 million were traded last week in 30 deals, compared with a total of 80,152 units valued at N82.543 million transacted prior’s week in 14 deals.
A total volume of 38,289,277 units of 12.75% FGN APR 2023 Bond was admitted on the Daily Official List of The Exchange on Tuesday, 8 May 2018. The 38,289,277 units were offered at N1000 per unit with total amount of N38,289,277,000 realized.
“Despite selloffs in the equities market, we maintain our positive outlook for Nigerian risky assets in the medium to long term, as market fundamentals remain strengthened,” analysts at Cordros Capital said.