Stocks Close Week Negative, Reports 0.71% Decline

October 20, 2017

By Abdulquddus OKELE InvestAdvocate

Lagos (INVESTADVOCATE)-Stocks on Friday closed the week on a negative note with the Nigerian Stock Exchange all-share index (NSEASI) and market capitalisation depreciated by 0.71 percent to close the week at 36,587.31and N12.594 trillion respectively.

“Similarly, all other Indices finished lower during the week with the exception of the NSE Banking and NSE Pension Indices that appreciated by 0.03 percent and 0.02 percent respectively while the NSE ASeM Index closed flat, according to weekly stock market report from the domestic bourse.

The report said at the close of trading on the floor of the NSE, a total turnover of 872.892 million shares worth N14.016 billion in 19,047 deals were traded this week by investors compared to a total of 1.555 billion shares valued at N13.504 billion that exchanged hands last week in 18,409 deals.

According to the update, the Financial Services Industry (measured by volume) led the activity chart with 692.380 million shares valued at N8.940 billion traded in 11,464 deals; thus contributing 79.32 percent and 63.78 percent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 63.658 million shares worth N123.149 million in 896 deals. The third place was occupied by Consumer Goods Industry with a turnover of 61.676 million shares worth N3.034 billion in 3,469 deals.

The report say trading in the Top Three Equities namely – Guaranty Trust Bank Plc, Zenith International Bank Plc and United Bank for Africa Plc (measured by volume) accounted for 270.638 million shares worth N7.213 billion in 3,902 deals, contributing 31.01 percent and 51.47 percent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 34,573 units of Exchange Traded Products (ETPs) valued at N2.091 million executed in 14 deals compared with a total of 60 units valued at N2,265.60 transacted last week in 6 deals.

A total of 7,279 units of Federal Government Bonds valued at N7.139 billion were traded this week in 12 deals, compared with a total of 1,041 units valued at N1.040 million transacted last week in 10 deals.

A summary of price changes in the review week shows that 23 equites gained in price, lower than 41 of the previous week. On the flipside, 34 equities lost in price, higher than 23 traded the past week, while 114 equities remained unchanged higher than 107 recorded in the preceding week.

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