Home Nigeria Nigerian Stocks Shave N1.7bn In A Week

Nigerian Stocks Shave N1.7bn In A Week

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Herbert-Wigwe, Access Bank Group MD, left and Phillips Oduoza, UBA MD
Herbert-Wigwe, Access Bank Group MD, left and Phillips Oduoza, UBA MD

The first week trade in year 2016 on the Nigerian Stock Exchange (NSE) had been on a bearish trend aside Thursday’s trade that recorded 0.31 per cent uplift.

Last week, N1.695 billion was lost as a turnover of 899.604 million shares worth N7.669 billion in 14,164 deals were traded by investors on the Nigerian Bourse. This was in contrast to a total of 2.965 billion shares valued at N9.364 billion that exchanged hands in the preceding week in 7,174 deals.

The Financial Services Industry, measured by volume, led the activity chart with 764.790 million shares valued at N4.858 billion traded in 8,904 deals; thus contributing 85.01 per cent and 63.34 per cent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 40.164 million shares worth N100.471 million in 626 deals.

The third place was taken by the Consumer Goods Industry with a turnover of 40.006 million shares worth N1.707 billion in 2,116 deals.

Trading in the top three equities were Access Bank Plc, Guaranty Trust Bank Plc and United Bank for Africa Plc. Measured by volume, they accounted for 339.027 million shares worth N2.800 billion in 3,116 deals, contributing 37.69 per cent and 36.51 per cent to the total equity turnover volume and value respectively

The NSE All-Share Index and Market Capitalisation depreciated by 5.63 per cent to close the week at 27,028.39 and N9.296 trillion respectively.

Similarly, all other Indices finished lower during the week, with the exception of the NSE Industrial Goods Index that rose by 0.45 per cent to close at 2,176.44.

Seventeen equities appreciated in price during last week trade, lower than 42 equities of the previous week. Fifty equities depreciated in price, higher 22 equities of the previous week, while 123 equities remained unchanged, lower than 126 equities recorded in the previous week.

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