NSE Depreciates Slightly This Week

• NSE Depreciates Slightly This Week

The Nigerian Stock Exchange (NSE) depreciated slightly this week to further extend its long term bearish trend.

The market capitalisation of listed equities depreciated by 0.09 percent to close at N13.472, down from N13.484 it closed in the previous week.

While the NSE All-Share Index declined by the same 0.09 percent from 27,698.69 basis points to 27,675.04 basis points. Bringing the bourse total lost to 7.65 percent in the third quarter and 11.95 percent year-to-date.

Activity level was low as 1.097 billion shares valued at N16.693 billion in 14,717 deals were traded during the week by investors, lower than the previous week when 1.272 billion shares worth N18.750 billion were exchanged in 19,482 deals in the previous week.

The financial services industry led trading activity by volume with 751.568 million shares valued at N6.414 billion in 8,086 deals.

This was trailed by the consumer goods industry with 141.469 million shares valued N8.531 billion in 2,426 deals.

Conglomerates industry emerged the third in terms of volume of trade with 101.787 million shares valued at N203.242 million in 956 deals.

Top traded stocks by volume were Access Bank Plc, Nigerian Breweries Plc and Custodian Investment Plc and collectively accounted for 494.681 million shares valued at N8.954 billion in 2,137 transactions, contributing 45.11 percent and 53.64 percent to the total equity turnover volume and value, respectively.

In terms of percentage gain, Seplat Petroleum Development Company Plc gained N96.60 or 21 percent to N556.60, while the shares of Continental Reinsurance Plc gained 20.38 percent or 32 kobo to N1.89, up from N1.57.

Total Nigeria Plc came third with 20 percent gain or N20 from N100 it opens to N120.