Nigerian Stock Exchange Depreciated by 1.4% Last Week

Forex Market
  • Nigerian Stock Exchange Depreciated by 1.4% Last Week

The bearish trend persists on the Nigerian Stock Exchange (NSE) last week as all indices except the NSE Premium Index closed lower.

The NSE All-Share Index declined by 381.5 points from 27,306.81 recorded in the previous week to 26,925.29 last week.

While the market capitalisation of listed equities also depreciated by 1.4 percent to close at N13.121 trillion.

It was a brief trading week as the market only opened for three days. Therefore, a total turnover of 726.607 million shares valued at N10.459 billion were traded in 12,915 deals during the week, down from 1.081 billion shares worth N12.04 billion exchanged in 16,246 transactions in the previous week.

The Financial Services industry led the activity chart by volume with 554.910 million shares valued at N6.499 billion transacted in 8,376 deals. Hence, contributing 76.37 percent to the total volume and 62.14 percent to the total value traded during the week.

Similarly, the conglomerates industry followed with 76.161 million shares worth N86.854 million in 621 transactions. The third place was Consumer Goods industry with a turnover of 29.783 million shares worth N754.919 million in 1,855 deals.

Trading in the Top Three Equities namely, Guaranty Trust Bank Plc, Zenith Bank Plc and Transnational Corporation of Nigeria Plc (measured by volume) accounted for 303.101 million shares worth N5.404 billion in 2,842 deals, contributing 41.71 percent and 51.67 percent to the total equity turnover volume and value respectively.

A total of 34 stocks closed in the red while only fifteen equities gained during the week.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: samed@investorsking.com.

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