Trading of equities on the floor of the Nigerian Exchange Limited, NGX ended the week on a negative with the NGX All-Share Index and Market Capitalization depreciating by 0.68% to close the week at 43,968.75 and N23.949 trillion respectively.
During the week, the market ended on a positive note in 3 out of the 5 days of transactions, while the market ended with mixed sentiments on Monday and a decline on Tuesday.
The market however failed to recoup the 1.8% loss recorded on Tuesday.
This week, selloffs in GUINNESS (-10.0%), FLOUR MILL (-9.9%), NIGERIAN BREWERIES PLC (-6.3%), AIRTEL AFRICA PLC(-0.39% w/w), DANGOTE CEMENT PLC (-0.62% w/w) and MTN NIGERIA COMMUNICATIONS PLC(-2.04% w/w) kept the market in the red, eroding gains in FBN HOLDINGS PLC (+3.54%), ACCESS HOLDINGS PLC(+1.26%), GEREGU (+8.50%).
Likewise, activity levels were weaker than the prior week, as trading volume and value declined by 21.9% w/w and 24.5% w/w, respectively.
Consequently, a total turnover of 1.101 billion shares worth N11.714 billion in 15,697 deals was traded this week by investors on the floor of the exchange, in contrast to a total of 1.410 billion shares valued at N15.510 billion that exchanged hands last week in 19,025 deals.
The Financial Services Industry (measured by volume) led the activity chart with 859.019 million shares valued at N6.691 billion traded in 8,157 deals; thus contributing 78% and 57.12% to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 96.989 million shares worth N109.622 million in 425 deals. The third place was the Oil & Gas Industry, with a turnover of 40.897 million shares worth N367.117 million in 1,065 deals.
Trading in the top three equities namely Access Holdings Plc, Sterling Bank Plc and Transnational Corporation Plc. (measured by volume) accounted for 577.512 million shares worth N2.761 billion in 1,132 deals, contributing 52.44% and 23.57% to the total equity turnover volume and value respectively.
Twenty-seven (27) equities appreciated in price during the week, higher than twenty (20) equities in the previous week. Thirty-six (36) equities depreciated in price lower than forty-three (43) in the previous week, while ninety-four (94) equities remained unchanged, the same as ninety-four (94) equities recorded in the previous week.
Similarly, all other indices finished lower with the exception of NGX Banking, NGX-AFR Bank Value, NGX AFR Div. Yield and NGX MERI Value, appreciated by 0.17%, 0.38%, 1.10% and 0.20% respectively, while the NGX ASeM, NGX Growth and NGX Sovereign Bond indices closed flat.
ETP
A total of 4,379 units valued at N622,934.20 were traded this week in 33 deals compared with a total of 4,577 units valued at N531,565.05 transacted last week in 28 deals.
BONDS
A total of 23,819 units valued at N24.622 million were traded this week in 16 deals compared with a total of 121,712 units valued at N119.220 million transacted last week in 16 deals.
Olusola Akintonde
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