The Nigerian equity market ended the week on a weak note, shedding 0.54 per cent on Friday.
The All Share Index (ASI) depreciated 0.54 per cent this week to close at 26,855.52, while market capitalization also dropped by 0.54 per cent to close the week at N12.962 trillion.
NIGERINS appreciated 10 per cent to top 14 other equities, UPL dropped 7.53 per cent to emerge top losers’ chart.
The market saw 19 equities appreciating this week, compared 31 equities which advanced last week.
On other hand, 35 equities dipped in price, higher than 32 equities in the previous week, while 111 equities remained unchanged, higher than 102 equities recorded in the preceding week.
All other indices finished lower with the exception of NSE Pension, NSE-AFR Div Yield, NSE Consumer Goods and NSE Lotus II indices which appreciated by 0.03%, 1.54% 1.71% and 0.97% respectively, while the NSE ASeM Index closed flat.
A total turnover of 952.697 million shares worth N12.774 billion in 17,279 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.161 billion shares valued at N13.174 billion that exchanged hands last week in 18,142 deals.
Trading in the Top Three Equities namely, FCMB Group Plc, Access Bank Plc and Zenith Bank Plc when measured by volume, accounted for 334.221 million shares worth N3.116 billion in 3,684 deals, contributing 35.08% and 24.39% to the total equity turnover volume and value respectively.
The Financial Services industry when measured by volume, led the activity chart with 690.986 million shares valued at N6.787 billion traded in 10,718 deals; thus contributing 72.53% and 53.13% to the total equity turnover volume and value respectively.
The Conglomerates industry followed with 101.908 million shares worth N701.283 million in 974 deals. The third place was Consumer Goods industry with a turnover of 57.636 million shares worth N2.009 billion in 2,095 deals.