Nigerian Stock Exchange closes the week bearish

The Nigerian Stock Exchange (NSE) closed the week bearish as market indices stood at 1.74%.

 

The major market indicators, the NSE All-Share Index and Market Capitalization depreciated by 1.74% to close the week at 38,648.48 and N20.221 trillion respectively.

 

Similarly, all other indices finished lower with the exception of NSE Mainboard, NSE Insurance, NSE ASeM, NSE MERI Growth, NSE Consumer Goods and NSE Oil/Gas Indices, which rose by 0.37%, 2.84%, 0.12%, 0.24%, 2.18 and 0.59% while the NSE Sovereign Bond Index closed flat.

 

At the end of transactions this week, 35 equities appreciated in price higher than fourteen 14 equities in the previous week.

 

Thirty-eight (38) equities depreciated in price, lower than seventy-one (71) equities recorded in the previous week, while 89 equities remained unchanged, higher than seventy-seven (77) equities recorded in the last week.

 

Among the top ten gainers, in percentage terms, Champion Breweries Plc led the chart with a price gain of 45.24 percent to close at N2.44 kobo per share.

 

Regency Assurance Plc followed with a price of 22.22% to close at N0.33 kobo per share.

 

Smart Products Nigeria Plc gained 20.00 percent to close at N0.24 kobo per share and Morrison Industries Plc had 19.70 percent to close at N0.79 kobo per share.

 

On the decliners’ chart, Eterna Plc led the table with a loss of 18.95 percent to close at N4.62 kobo per share.

 

Meyer Plc followed with 18.00 percent loss to close at N0.41 kobo per share, while African Alliance Insurance Plc lost 16.67 percent to close at N0.20 kobo per share, among others.

 

A total turnover of 1.675 billion shares worth N23.541 billion in 21,732 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 2.092 billion shares valued at N29.744 billion that exchanged hands last week in 24,238 deals.

 

The Financial Services Industry, when measured by volume led the activity chart with 1.200 billion shares valued at N10.272 billion traded in 12,518 deals; thus contributing 71.64% and 43.64% to the total equity turnover volume and value respectively.

 

The Consumer Goods Industry followed with 110.564 million shares worth N3.577 billion in 3,234 deals.

 

The third place was Industrial Goods Industry, with a turnover of 99.761 million shares worth N5.322 billion in 1,309 deals.

 

Trading in the top three equities namely United Bank for Africa Plc, FBN Holdings Plc and Zenith Bank Plc, measured by volume accounted for 524.548 million shares worth N5.957 billion in 5,346 deals, contributing 31.32% and 25.30% to the total equity turnover volume and value respectively.