The Nigerian Stock Exchange market capitalisation lost N51bn with a total turnover of 1.101 billion shares worth N17.082 billion in 15,431 deals were traded this week by investors in contrast to a total of 713.141 million shares valued at N13.295 billion that exchanged hands last week in 16,237 deals.
The Financial Services industry, when measured by volume, led the activity chart with 752.440 million shares valued at N9.900 billion traded in 8,519 deals; thus contributing 68.34% and 57.96% to the total equity turnover volume and value respectively.
The Conglomerates industry followed with 93.204 million shares worth N239.250 million in 883 deals. The third place was Construction/Real Estate Industry with a turnover of 65.808 million shares worth N66.730 million in 100 deals.
Trading in the Top Three Equities namely, Guaranty Trust Bank Plc, Access Bank Plc and Zenith Bank Plc, when measured by volume, accounted for 530.372 million shares worth N9.096 billion in 3,604 deals, contributing 48.17% and 53.25% to the total equity turnover volume and value respectively.
A total of 3,692 units valued at N1.974 million were traded this week in 10 deals compared with a total of 4,865 units valued at N76,851.65 transacted last week in 15 deals.
A total of 47,690 units of Federal Government Bonds valued at N51.008 million were traded this week in 15 deals compared with a total of 4,336 units valued at N4.443 million transacted last week in 12 deals.
The NSE All-Share Index and Market Capitalization both depreciated by 1.38% to close the week at 27,146.57 and N13.207 trillion respectively.
Similarly, all other indices finished lower with the exception of NSE Banking, NSE Pension, NSE Insurance, NSE-AFR Bank Value, NSE AFR Div Yield, NSE MERI Value, and NSE Industrial Goods Indices which appreciated by 0.20%, 0.84%, 0.83%, 1.56%, 1.41%, 1.64%, and 0.59% respectively, while the NSE ASeM index closed flat.
SUMMARY OF PRICE CHANGES
Tewnty-seven (27) equities appreciated in price during the week, higher than Tewnty-five (25) equities in the previous week. Thirty-four (34) equities depreciated in price, lower than Thirty-five (35) equities in the previous week, while one hundred and five (105) equities remained unchanged, lower than one hundred and six (106) equities recorded in the preceding week.
Analysis according to Cordros Securities states “Over the coming week, we expect the market to remain pressured given global risk-off sentiments and weak domestic participation. Nonetheless, we note that valuations remain attractive, while price deteriorations have resulted in expected dividend yields on some stocks rising significantly. Hence, we advise long-term investors to consider taking positions in such fundamentally justified equities, while short-term investors should tread the cautious trading path,”