Transactions at the nation’s stock market last week closed on the negative profile as investors wealth depreciated by N194 billion. Specifically, the market capitalization of the listed equities went down by 1.53% to N12.512 trillion from N12.706 trillion traded the previous week.
NSE All Share Index declined by 606.42 basis points to 38952.47 points from 39558.89 recorded the preceding week.
Five sectoral NSE sector indices depreciated during the week while three appreciated. NSE 30 index dropped by 1.66% to close at 1,748.25. NSE Insurance index shed 2.31% to close at 143.28, while NSE consumer goods loss 4.67% to close at 960.71.
NSE Lotus II depreciated by 1.79% to close at 2,789.07, and the NSE-ASeM index also went down by 0.30% to close at 956.72. However, NSE banking index appreciated by 0.26% to close at 385.45, while the NSE oil/gas index grew by 1.37% to close at 305.61 and the NSE industrial goods improved by 0.52% to close at 2,582.16.
Investors bought a turnover of 2.145 billion shares worth N18.487 billion in 22,697 deals against a total of 1.809 billion shares valued at N26.698 billion that exchanged hands the previous week in 25,342 deals.
The financial services sector led the activity chart in volume terms with account of 1.715 billion shares valued at N11.153 billiontraded in 12,303 deals, contributing 79.97% and 60.33% to the total equity turnover volume and value respectively. The conglomerates followed with a turnover of 236.714 million shares worth N1.052 billion in 1,773 deals,while the consumer goods industry came third accounting for 52.824 million shares worth N3.499 billion in 3,664 deals.
Trading in the top three equities namely – Wema Bank, Trancorpand Zenith Bank accounted for 873.344 million shares worth N6.058 billion in 2,983 deals, indicating 40.72% and 32.77% to the total equity turnover volume and value respectively.
Furthermore, 32 equities appreciated in price against 51 recorded in the preceding week. 54 companies recorded price depreciation compared with 26 stocks of the preceding week, while 112 equities remained unchanged as against 121 equities in the previous week.
Forte Oil recorded the highest gain for the week, appreciating by 17.65% or N15.60 kobo to close at N104.00. IPWA followed with a gain of 13.46% or N0.07 kobo to close at N0.59 kobo, while Chams enhanced by 12.00% or N0.06 kobo to close at N0.56 kobo.
Others were Cornerstone Insurance 10.00%, Union Dicon Salt8.51%, Union Bank of Nigeria 6.63%, Costain 5.73%, UACN Property Development Company 5.35%, Cement Company of Northern Nigeria 4.98% and Zenith Bank 4.63%.
