NSE closes last week of August bearish

Activities on the floor of the Nigerian Stock Exchange (NSE) at the weekend finished the last trading week of August on the downswing as the NSE All-Share Index and Market Capitalization both depreciated by 0.99 per cent to close the week at 27,525.81 and N13.391 trillion respectively.

Similarly, all other indices finished lower with the exception of NSE Insurance Index, NSE MERI Growth Index and NSE Industrial Goods Index which appreciated by 1.15 per cent, 0.04 per cent and 0.34 per cent while the NSE ASeM index closed flat.

A total turnover of 713.141 million shares worth N13.295 billion in 16,237 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 2.337 billion shares valued at N19.712 billion that exchanged hands the previous week in 18,379 deals.

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The Financial Services industry (measured by volume) led the activity chart with 401.887 million shares valued at N4.069 billion traded in 8,627 deals; thus contributing 56.35 per cent and 30.60 per cent to the total equity turnover volume and value respectively.

The Conglomerates industry followed with 123.330 million shares worth N197.298 million in 755 deals. The third place was ICT industry with a turnover of 53.887 million shares worth N5.296 billion in 852 deals.

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Trading in the top three equities namely, Transnational Corporation of Nigeria Plc, Access Bank Plc and Zenith Bank Plc (measured by volume) accounted for 242.657 million shares worth N1.808 billion in 2,990 deals, contributing 34.03 per cent and 13.60 per cent to the total equity turnover volume and value respectively.

25 equities appreciated in price during the week, lower than 40 equities in the previous week. 35 equities depreciated in price, higher than 25 equities in the previous week, while 106 equities remained unchanged, higher than 101 equities recorded in the preceding week.

A total of 4,865 units valued at N76,851.65 were traded last week in 15 deals compared with a total of 3,943 units valued at N1.684 million transacted the previous week in 16 deals.

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A total of 4,336 units of Federal Government Bonds valued at N4.443 million were traded last week in 12 deals compared with a total of 1,673 units valued at N1.674 million transacted the previous week in 31 deals.

A total volume of 81,030 units of 10.301 per cent FGNSB AUG 2021 and 243,371 units of 11.301 per cent FGNSB AUG 2022 were admitted to trade at the Exchange on the 28th of August, 2019.

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