15 August 2016, Lagos — Investors in the nation’s stock market lost N50.9 billion last week as market capitalisation dropped to N9.358 trillion on Friday from N9.408 trillion it opened during the week.
In the same vein, another stock market gauge, the All-Share Index depreciated by 0.65 percent to close the week under review at 27,246.88 points. Also, all other Indices on the NSE finished lower during the week under review, with the exception of the NSE Industrial Goods Index that gained 0.66 percent, while the NSE ASeM Index closed flat.
A turnover of 1.361 billion shares worth N10.711 billion in 16,070 deals were traded last week by investors on the floor of the exchange in contrast to a total of 1.185 billion shares valued at N13.033 billion that exchanged hands the penultimate week in 18,548 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.237 billion shares valued at N7.913 billion traded in 9,544 deals; thus contributing 90.87 per cent and 73.8 per cent to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 46.182 million shares worth N77.192 million in 637 deals.
The third place was occupied by the Consumer Goods Industry with a turnover of 38.102 million shares worth N1.372 billion in 2,907 deals.
Trading in the top three equities namely – Wapic Insurance Plc, FBN Holdings Plc and Guaranty Trust Bank Plc (measured by volume) accounted for 666.721 million shares worth N5.064 billion in 3,205 deals, contributing 48.99 per cent and 47.27 per cent to the total equity turnover volume and value respectively.
Exchange Traded Products (ETPs)s also traded during the week under review were a total of 1.003 million units valued at N12.116 million executed in 43 deals, compared with a total of 11,383 units valued at N128,168.98 transacted penultimate week in 48 deals.
Eighteen (18) equities appreciated in price, lower than twenty-two (22) equities of the penultimate week, while thirty-eight (38) equities depreciated in price, lower than forty (40) equities of the penultimate week. One hundred and twenty-four (124) equities remained unchanged higher than one hundred and eighteen (118) equities recorded in the penultimate week.
*Peter Egwuatu – Vanguard