Stories By Amaka Ifeakandu Lagos Investment in the nation’s equity market last week closed on a negative trend as investors embarked on profi t taking . Th e market capitalisation of the listed equities grew by N265 billion or 2.31 per cent to N11.187 trillion from N 11.452 trillion recorded the previous week. Th e Nigerian Stock Exchange (NSE) All Share Index also declined by 658.31 basis point to 32459.17 from 33117.48 traded the preceding week. Similarly, all other Indices went negative direction during the week
with the exception of the NSE Insurance and the NSE Industrial Goods Indices that appreciated by 1.10 per cent and 0.22 per cent while the NSE ASeM index closed fl at. NSE Premium index down by 10.25 to 2, 213.38 points, Th e NSE Main Board Index fell by 43.56 to 1,438.51, NSE 30 Index sheds 38.43 basis points to 1466.01, NSE Consumer Goods index dropped by 32.08 to 763.32 points, NSE Oil and Gas declined by 5.66 to 317.50 and NSE Pension index decreased by 44.21 basis point to 1,113.46 points. Meanwhile, investors for the week traded a turnover of 1.061 billion shares worth N12.295 billion in 18,847 deals in contrast to a total of 1.171 billion shares valued at N11.458 billion that exchanged hands previous week in 13,763 deals. Th e Financial Services Industry led the activity chart with 802.195 million shares valued at N7.331 billion traded in 11,334 deals, contributing 75.62 per cent and 59.63 per cent to the total equity turnover volume and value respectively. Th e Conglomerates Industry followed with account of 109.378 million shares worth N174.604 million in 1,024 deals. Th e Consumer Goods Industry took third position with a turnover of 62.992 million shares worth N2.405 billion in 3,021deals
Th e NSE weekly trading result showed that the top three equities namely Zenith International Bank Plc, Transnational Corporation of Nigeria Plc and FBN Holdings Plc accounted for 317.099 million shares worth N3.223 billion in 3,823 deals, contributing 29.89 per cent and 26.21 per cent to the total equity turnover volume and value respectively. A review of the transactions for the week showed that 16 equities appreciated in price during the week against 40 recorded in the previous week. Th e result further indicated that 51 companies depreciated in price, compared to 28 equities reported two weeks, while 105 equities remained unchanged same as the number of equities recorded in the preceding week.
