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Weekly trade: Index slips by 1.53%

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IMAGE: Trading floor, Nigerian Stock Exchange »





Equity trading on the floor of the Nigerian Stock Exchange closed last week on a negative note with major indicators shedding significant points.

For instance, the NSE’s All-Share Index which opened the week at 39,558.89 points fell by 1.53 per cent or 606.42 basis points to close on Friday at 38,952.57 points.

Similarly, the market capitalisation of the listed equities lost 1.53 per cent to N12.512tn, down from N12.709tn recorded last Monday.

The NSE-30 Index depreciated by 29.57 points or 1.66 per cent to close at 1,748.25 points on Friday, down from 1,777.82 basis points, while the NSE Insurance Index was down to 143.28 points from 146.67 points at which it opened the week.

However, three of the eight sectoral indices appreciated during the week with the NSE Banking index rising by one per cent to close at 385.84 points, while the NSE Industrial Goods Index gained 0.52 per cent to close at 2,582.16 basis points.

A total of 2.145 billion shares worth N18.48bn were exchanged by investors last week in 22,697 deals in contrast to 1.809 billion shares, valued at N26.69bn in 25,342 transactions.

The financial services sector was the most active sector during the week in terms of turnover with 1.715 billion shares, valued at N11.153bn exchanged in 12,303 deals.

A total of 32 stocks appreciated in price during the week, while 54 stocks recorded losses.

Forte Oil Plc led the price gainers’ chart, rising by 17.65 per cent or N15.60 to close at N104 per share.

IPWA Plc followed on the chart with a gain of 13.46 per cent to close at 0.59 per share, while Chams Plc gained 12 per cent to close at 56 kobo per share.

Cornerstone Insurance Plc also gained 10 per cent or five kobo to close at 55 kobo per share.

On the other hand, Academy Press Plc led the price losers’ chart, shedding 13.57 per cent or 27 kobo to close at N1.72 per share.

Guinness Nigeria Plc also lost 13.22 per cent or N26.17 to close at N171.73 per share, while Wema Bank Plc and AG Leventis Plc lost 10.43 and 10.18 per cent to close at N1.03 and N1.50 per share in that order

Article Credit: PUNCH Newspaper

Updated 5 Years ago

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