- NSE Market Capitalisation Drops by N458bn
The market capitalisation of equities listed on the Nigerian Stock Exchange declined by N458bn within 19 days of trading.
The market capitalisation dropped from N13.391tn on August 2, 2018 to N12.933tn on August 24. It appreciated by 0.45 per cent last week.
The NSE All-Share Index also increased by 0.45 per cent to 35,426.17 basis points, while all other indices finished lower with the exception of the NSE Premium, NSE Insurance, NSE Lotus II and NSE Industrial Goods indices that rose by 3.15 per cent, 0.78 per cent,1.10 per cent and 1.96 per cent, respectively.
The N458bn decline in the market capitalisation dragged the ASI down to 35,426.17bps from 36,688.91bps on August 2, with the premium index dropping to 2,606.81bps on August 24 from 2,653.20bps on August 2.
The NSE corporate governance index fell from 1,455.31bps to close at 1,381.56bps on August 24, while the main board index dropped by 78.05 basis points to 1544.54bps from 1,622.59bps.
The banking index declined from 465.89bps to 424.84bps, while the industrial index dropped from 1,764.31bps to 1,750.30bps.
However, the Alternative Securities Market index, which remained constant at 809.92bps, has declined by 14.71 per cent this quarter and by 25.51 per cent this year.
Meanwhile, a total turnover of 968.947 million shares worth N10.246bn in 9,654 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 1.147 billion shares valued at N12.546bn in 16,649 deals the previous week.
The financial services industry (measured by volume) led the activity chart with 874.023 million shares valued at N7.671bn traded in 6,029 deals, thus contributing 90.20 per cent and 74.87 per cent to the total equity turnover volume and value, respectively.
The consumer goods industry followed in second place with 26.818 million shares worth N1.624bn in 1,476 deals, while the third place was occupied by the oil and gas industry with a turnover of 24.795 million shares worth N91.439m in 752 deals.
The top five gainers for the week were Newrest ASL Nigeria Plc, Skye Bank Plc, Veritas Kapital Assurance Plc, FCMB Group Plc, and Dangote Cement Plc, while the top five losers were Jaiz Bank Plc, Union Diagnostic and Clinical Services Plc, University Press Plc, Livestock Feeds Plc and International Breweries Plc.
