The Nigerian Stock Exchange
The Nigerian Stock Exchange

The equities market closed negative last week as Nigerian Stock Exchange All-Share Index (NSE ASI) dropped by 0.28 per cent to 40,814.89 basis points.

Similarly, all other indices finished lower with the exception of NSE Consumer Goods, NSE Premium, NSE-Main Board, NSE 30, NSE Banking, NSE Oil/Gas, and NSE Pension indices, which appreciated by 1.08 per cent, 1.38per cent, 0.54per cent, 0.13per cent, 2.34per cent, 0.73per cent and 1.42per cent respectively.

The drop in NSE ASI can be attributable to profit-taking in mid-small capitalised companies on the Exchange.

The market closed last week at N14.74 trillion, dropping N41 billion from N14.78 trillion the market opened for trading last week.

According to NSE weekly report, a total turnover of 3.008 billion shares worth N30.296 billion in 24,036 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.415 billion shares valued at N19.644 billion that exchanged hands last week in 20,659 deals.

“The Financial Services Industry (measured by volume) led the activity chart with 2.54 billion shares valued at N23.51 billion traded in 13,179 deals; thus contributing 84.43 per cent and 77.60 per cent to the total equity turnover volume and value respectively.

“The Oil and Gas Industry followed with 273.44 million shares worth N2.36 billion in 3,735 deals. The third place was occupied by Consumer Goods Industry with a turnover of 60.840 million shares worth N2.65 billion in 3,141 deals.

“Trading in the Top Three Equities namely – FCMB Group Plc, United Bank for Africa Plc, and Oando Plc (measured by volume) accounted for 1.816 billion shares worth N9.60 billion in 3,851 deals, contributing 60.37 per cent and 31.69 per cent to the total equity turnover volume and value respectively.”

Also traded during the week were a total of 177,144 units of (ETPs) valued at N2.81 million executed in 6 deals, compared with a total of 616,587 units valued at N9.19 million that was transacted last week in 21 deals.

A total of 13,735 units of Federal Government Bonds valued at N14.13 million were traded this week in 16 deals, compared with a total of 2,500 units valued at N2.37 million transacted last week in 10 deals.