A turnover of 1.469 billion shares worth N17.065 billion in 21,246 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 2.387 billion shares valued at N26.381 billion that exchanged hands last week in 28,072 deals.
The financial services industry (measured by volume) led the activity chart with 1.169 billion shares valued at N10.241 billion traded in 12,697 deals; thus contributing 79.59 per cent and 60.01 per cent to the total equity turnover volume and value respectively.
The conglomerates industry followed with 133.613 million shares worth N300.892 million in 1,081 deals. The third place was occupied by the Consumer Goods Industry with a turnover of 110.745 million shares worth N4.904 billion in 3,495 deals.
Guaranty Trust Bank Plc, FBN Holdings Plc and Transnational Corporation of Nigeria Plc (measured by volume) accounted for 523.549 million shares worth N6.539 billion in 5,223 deals, contributing 35.65% and 38.32% to the total equity turnover volume and value respectively.
Also traded during the week were a total of 12,695 units of Exchange Traded Products (ETPs) valued at N174,028.05 executed in 35 deals, compared with a total of 121,501 units valued at N90.716 million transacted last week in 34 deals.
A total of 2,979 units of Federal Government Bonds valued at N2.908 million were traded in five deals compared to a total of 9,439 units of Federal Government Bonds valued at N10.429 million transacted last week in 7 deals.
The NSE All-Share Index and Market Capitalisation depreciated by 4.39% to close the week at 29,305.40 and N10.065 trillion respectively.
Similarly, all other Indices finished lower during the week, with the exception of the NSE ASeM Index that closed higher.
Twenty-two equities appreciated in price during the week, lower than forty equities of the previous week. Fifty-two equities depreciated in price, higher than thirty-two equities of the previous week, while 106 equities remained unchanged lower than one hundred and eight equities recorded in the preceding week.
Meanwhile, at the close of trading today, the market lost 1.0 per cent, as investors extended profit taking ahead of the Eid el’fitri celebrations.
AdvertisementValue traded was down by 52.2 per cent to 2.2 billion from N4.6 billion, while market capitalisation also declined by N100.4 billion to close at N10.1 trillion. As one would expect, market breadth trimmed to 0.7x (from 0.9x previously) as 17 stocks appreciated against 24 losers.
Overall the equities market lost 4.0 per cent on a w/w basis, with year-to-date return now sitting at +2.3 per cent.
Reacting to the performance, experts at United Capital said they anticipated that the equities market will have a slow start on Monday, as investor prepare for the upcoming holidays. Nevertheless, we expect investor appetite to remain strong in the near term.
The local bourse recorded 24 losers against 17 gainers, resulting in further depression of the overall performance measures: NSE All Share Index fell by 98.8 basis points and Market capitalisation shed 98.8 basis points.
Also, there were declines in investment activities and level as total deals fell 14.54 per cent while transaction value decreased by 52.15 per cent.
The Consumer goods sector led losses at the close of trades on Friday, with a negative daily return of 2.3 per cent, mostly driven by losses in counters such as Honeywell Flour Mills (-9. Per cent), Nigerian Breweries (-5. Per cent and Guinness Nigeria (-3.9 per cent).
Similarly, the Financial services and Industrial goods sectors also lost 1.0 percent and 0.3 per cent respectively owing to price depreciation in stocks like Fidelity Bank (-3.0 per cent), First City Monument Bank (-1.9 per cent) and Dangote Cement (-0.01 per cent). It was gains in Conoil (+10.0 per cent) that ensured the Oil and gas sector closed 0.6 per cent.
Nigerian interbank treasury bills true yields mostly fell across the maturities – yields on three months, six months and twelve months dropped to 9.77 percent, 10.30 per cent and 13.38 per cent respectively.
Nigerian interbank offered rates mellowed across the tenor buckets on sustained liquidity ease-NIBOR overnight, one month and three months maturities fell to 4.42 per cent, 10.82 per cent and 13.62 per cent respectively.
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