Despite Hike in Trading, All-Share Index Drops 1.13% | Nigeria Today
Pages Navigation Menu

Nigeria news, headlines, events , stories and all that is trending today

Despite Hike in Trading, All-Share Index Drops 1.13%

Kunle Aderinokun

Activities on the floor of the Nigerian Stock Exchange improved last week, which ended on Friday, as a total of 11.907 billion shares were traded for N18.338 billion in 19,508 deals compared with a total of 1.111 billion shares valued at N7.448 billion traded in 15,562 deals. The improvement in trading activities, could not however impact the NSE All-Share Index, which dropped by 1.13 per cent.

Leading the activity chart, measured by volume, was the Financial Services Industry with 11.692 billion shares valued at N14.734 billion traded in 13,094 deals. These represented 98.20 per cent and 80.35 per cent of the total equity turnover volume and value respectively.

While the Conglomerates Industry followed with 71.891 million shares worth N175.603 million in 777 deals, the third place was occupied by the Consumer Goods Industry with a turnover of 69.718 million shares worth N1.179 billion in 3,019 deals.

Trading in the top three equities namely, Wema Bank Plc, Unity Kapital Assurance Plc and Zenith Bank International Plc, measured by volume, accounted for 11.006 billion shares worth N11.274 billion in 2,856 deals, contributing 92.43 per cent and 61.48 per cent to the total equity turnover volume and value respectively.
Following the outing by investors in the week under review, the NSE All-Share Index and Market Capitalisation depreciated by 1.13 per cent to close the week at 25,694.79 and N8.839 trillion respectively.

Analysts at Dunn Loren Merrifield have therefore posited that the week witnessed several full year 2015 earnings reports from large companies with varied dividends that offered a mixed picture for investors.

These, however, failed to lift the market as the overall focus remained on: macro environment; profit warnings coming from the banking sector; the impending action of the central bank on local currency (Naira) that has been keeping FPIs away from the market.

According to the analysts, “this impacted on investors’ appetite with the market showing weak performance for the most part of the week. Hence, the ASI slipped by 1.13 per cent week on week while market capitalisation declined by N109.65billion.

Among the listed tickers, large capitalised stocks underperformed small capitalised stocks with 19 stocks recording gains while 40 stocks posted a decline during the week. Overall, Tiger Brands emerged as the best-performing stock rising by 55.08 per cent to close the week at N2.90.”

Do you have something awesome to share with the world? Click here to share

Do you ever have any question about anything you wish to ask and get answer? Click here to ask

Follow us on twitter @NigeriaTodayNG

Also, Like us on facebook

This post was syndicated from THISDAYLIVE. Click here to read the full text on the original website.

Comments

Be the First to Comment!

Notify of
avatar
wpDiscuz
Download the Nigeria Today app from Play store. Click here download now
Hello. Add your message here.