Nigerian Stock Exchange
The continued free fall in equity prices, which indicates a low buying interest among the investor-community, has resulted to another significant decline in the market capitalisation and All-Share Index (ASI), estimated at 2.5 per cent.
Indeed, the managers of the economy and the government now have their hands filled with issues of next year’s general elections, a development that have continued to trigger volatility in the market and persistent bear run on the equity sector of the Nigerian Stock Exchange (NSE).
Specifically, at the close of transactions last week, ASI and market capitalisation depreciated by 2.5 per cent to close the week at 30,874.17 and N11.27 trillion.
Similarly, all other indices finished lower with the exception of the NSE ASeM, NSE Insurance and NSE Consumer Goods Indices that finished higher by 0.09 per cent, 4.71 per cent and 0.08 per cent respectively.
Also, the volume of shares traded reduced significantly, as a turnover of 1.199 billion shares worth N14.277 billion was recorded in 15,841 deals by investors on the floor of the Exchange, against 1.282 billion units valued at N23.142 billion that changed hands in 11,467 deals during the preceding week.
Read Also:
Specifically, the financial services industry (measured by volume) led the activity chart with 963.315 million shares valued at N7.536 billion traded in 8,871 deals; thus contributing 80.38 percent to the total equity turnover volume.
The consumer goods industry followed with 83.001 million shares worth N4.213 billion in 2,802 deals, while the industrial goods industry ranked third with a turnover of 60.782 million shares worth N1.976 billion in 1,639 deals.
Trading in the top three equities- Diamond Bank Plc, Access Bank Plc and Universal Insurance Plc, accounted for 512.535 million shares worth N1.367 billion in 1,437 deals, contributing 42.76 per cent to the total equity turnover.
Further breakdown of last week’s transactions showed that NSE Main Board index dropped by 15.24 to 1,410.41 points, NSE 30 index went down by 35.08 to 1394.99.
Also, NSE Banking fell by 12.27 to 398.47 points, Oil and Gas index dropped by 14.91 to 276.03 points, NSE Lotus II declined by 16.86 to 2205.70 points, NSE Industrial goods sheds 43.30 to 1244.53 points , NSE Pension index went down by 17.43 basis points to 1162.82 points.
The post Market indices depress further over persistent free fall in equity prices appeared first on – .
Source: G Business
