Nigerian Stock Exchange Depreciates 0.32% Last Week

Nigerian stock market
  • Nigerian Stock Exchange Depreciates 0.32% Last Week

The Nigerian Stock Exchange (NSE) sustained its bearish trend last week despite measures to boost investment sentiment and stimulate growth.

The bourse’s market value depreciated by 0.32 percent to close the week at 26,448.62, down from 26,533.78 recorded in the previous week.

Also, the NSE All-Share Index declined 0.32 percent from N12.917 trillion to N12.875 trillion.

The bourse has now lost 15.85 percent of its value from year to date.

Activity level was low as a total of 896.610 million shares valued at N16.561 billion were exchanged in 12,638 deals, lower than the 1.409 billion shares valued at N31.959 billion in 13,616 deals.

In terms of volume traded, the financial services industry led with 597.154 million shares worth N6.721 billion exchanged in 7,197 transactions.

This was followed by the consumer goods industry with 102.130 million shares valued at N7.214 billion in 2,027 deals.

While the service industry came third with a turnover of 84.001 million shares worth N377,017 million in 264 deals.

Guaranty Trust Bank Plc, Global Spectrum Energy Services Plc and Flour Mills Nigeria Plc were the three top traded stocks during the week and accounted for 302.285 million shares worth N5.510 billion of the total equity turnover.

About the Author

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

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