Nigerian Stock Exchange Depreciates by 1.11% this Week

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  • Nigerian Stock Exchange Depreciates 1.11%

The Nigerian Stock Exchange depreciated by 1.11 percent to close the week in the red as sell pressure weighed on the bourse performance.

The market capitalisation of listed equities dipped to N14.45 trillion while the NSE All-Share Index declined by 311.22 basis points or 1.11 percent from 28,067.09 recorded a week ago to 27,755.87 basis points.

Activity level was low as 912.175 million shares valued at N12.126 billion were exchanged in 17,083 deals by investors during the week, down from 1.478 billion shares valued at N20.295 billion that were transacted in the previous week.

The financial services sector led activity chart by volume with 624.219 million shares valued at N7.129 billion exchanged in 9,640 deals, while the conglomerates industry followed with 93.204 million shares worth N452.093 million in 861 trades.

Oil and gas industry came third with a turnover of 59.267 million shares valued at N124.638 million traded in 1,254 deals.

Zenith Bank Plc led most traded equities for the week, while Guaranty Trust Bank Plc and United bank followed, respectively.

“Nineteen (19) equities appreciated in price during the week, higher than fifteen (15) equities in the previous week. Thirty-five (35) equities depreciated in price, lower than forty-nine (49) equities in the previous week, while one hundred and nine (109) equities remained unchanged, higher than ninety-nine (99) equities recorded in the preceding 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, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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