Investors trade 1.037bn shares at N9.471bn
By Kayode Tokede
A turnover of 1.037 billion shares worth N9.471 billion in 17,577 deals were traded last week on Nigerian Exchange Limited last week by investors, in contrast to a total of 1.048 billion shares valued at N11.543 billion that exchanged hands last week in 17,233 deals.
The Financial Services Industry (measured by volume) led the activity chart with 687.623 million shares valued at N5.659 billion traded in 9,506 deals; thus contributing 66.29 per cent and 59.75 per cent to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 106.138 million shares worth N545.020 million in 1,146 deals. The third place was ICT Industry, with a turnover of 84.310 million shares worth N350.698 million in 604 deals.
Trading in the top three equities namely Zenith Bank Plc, Guaranty Trust Bank Plc and Fidelity Bank Plc (measured by volume) accounted for 229.453 million shares worth N4.281 billion in 3,634 deals, contributing 22.12per cent and 45.20per cent to the total equity turnover volume and value respectively.
ETPs recorded a total of 1,415 units valued at N1.478 million in the week in 11 deals compared with a total of 5,646 units valued at N623,224 transacted upper week in 14 deals.
A total of 46,252 units valued of Bonds at N48.472 million were traded this week in 44 deals compared with a total of 80,998 units valued at N81.944 million transacted last week in 22 deals.
The NSE All-Share Index and Market Capitalization depreciated by 0.18 per cent to close the week at 38,256.95 and N19.940 trillion respectively.
Similarly, all other indices finished lower with the exception of NSE Premium, NSE Pension, NSE Insurance and NSE Oil/Gas which appreciated by 0.96 per cent, 0.16 per cent, 1.01 per cent and 0.85 per cent respectively, while the NSE ASeM Index closed flat.
The market recorded 32 equities which appreciated in price during the week, higher than 26 in the previous week even as 30 equities depreciated in price lower than 41 in the previous week, while 98 equities remained unchanged higher than 93 equities recorded in the previous week.
Analysts at Codros capital said, “We still expect a choppy theme in the week ahead, with the bears dominating proceedings in the absence of positive triggers to spur a bullish performance.
“Notwithstanding, we advise investors to take positions in only fundamentally justified stocks as the fragility of the macroeconomic environment remains a significant headwind for corporate earnings.”
