NSE index sheds 0.84%

The equities market of the Nigerian Stock Exchange (NSE) closed on a negative note on last week as investors sell-off thrust the capital market downward 

The NSE All-Share Index and market capitalization depreciated by 0.84 per cent to close on last week Friday at 29,562.07 basis points and N9.847 trillion respectively.

In all, 28 equities recorded price appreciation, led by Dangote Sugar Refinery Plc, which gained 23.33 per cent or N1.29 to close at N6.82 per share.P. Z. Industries Plc rose by 18.56 per cent or N4.642 to close at N29.64 per share, while Ikeja Hotel Plc and Okomu Oil Palm Company Plc gained 12.59 per cent and 12.22 per cent to close at N3.0 and N27.45 per share respectively. 

Costain (West Africa) Plc also gained 10.77 per cent or N0.07 to close at N0.72 per share.

On the other hand, 41 stocks recorded price depreciation led by R. T. Briscoe (NIG.) Plc that declined by 12.86 per cent or N0.09 to close at N0.61 per share, followed closely by Diamond Bank Plc, which shed 10.50per cent or N0.42 to close at N3.58 per share.

May & Baker Nigeria Plc, which was down by 8.86per cent or N0.14 to close at N1.44 per share. Zenith Bank Plc lost 8.51 per cent or N1.49 to close at N16.01 per share; followed by Champion Breweries Plc and UBA Capital Plc with a 7.57 per cent and 7.57 per cent share price depreciation to close at N5.62 and N7.10per share respectively.

According to NSE report, a turnover of 2.210 billion shares worth N28.960 billion in 19,495 deals were traded last week by investors on the floor of The Exchange. The Financial Services Industry, by volume led the activity chart with 1.361 billion shares valued at N10.215 billion traded in 11,030 deals; thus contributing 61.58 per cent and 35.27 per cent to the total equity turnover volume and value respectively.

The Oil & Gas Industry followed with a turnover of 439.582 million shares worth N8.402 billion in 1,723 deals. The third place was occupied by the Consumer Goods Industry with 236.003 million shares worth N7.880 billion in 3,464 deals.

Trading in the Top Three Equities namely- Oando Plc, Fidelity Bank Plc, and Access Bank Plc (measured by volume) accounted for 889.737 million shares worth N9.095 billion in 2,344 deals, contributing 40.27 per cent and 31.40 per cent to the total equity turnover volume and value respectively.