Equities Shed N435bn In One Week

Equities Shed N435bn In One Week

Oladejo Amos
Trading in equities closed on a negative note last week despite market sentiments such as earnings growth prospects, policy actions and currency.
It was a four-day trading week as the Federal Government of Nigeria declared Monday, May 30, 2016 as public holiday to commemorate democracy day.
All the sectors posted losses in the week as the benchmark index recorded a decline of 4.39 per cent, while market capitalization fell by ₦435.41billion.
Meanwhile, a turnover of 1.263 billion shares worth N11.583 billion in 17,434 deals were traded during the week by investors in contrast to a total of 2.338 billion shares valued at N14.789 billion that exchanged hands the preceding week in 24,942 deals.
The financial services industry (measured by volume) led the activity chart with 1.024 billion shares valued at N5.983 billion traded in 10,686 deals, contributing 81.07 per cent and 51.65 per cent to the total equity turnover volume and value respectively.
The consumer goods industry followed with 83.240 million shares worth N3.595 billion in 2,650 deals. The third place was occupied by the conglomerates industry with a turnover of 74.979 million shares worth N121.593 million in 715 deals.
Trading in the United Bank For Africa Plc, FBN Holdings Plc and Zenith International Bank Plc accounted for 418.707 million shares worth N2.858 billion in 4,405 deals, contributing 33.14 per cent and 24.68 per cent to the total equity turnover volume and value respectively.
Also traded during the week were a total of 6,500 units of Exchange Traded Products valued at N117,637.20 executed in 24 deals, compared with a total of 537,969 units valued at N56.655 million transacted last week in 43 deals.
A total of 151,970 units of Federal Government and Corporate Bonds valued at N170.962 million were traded in five deals compared to a total of 4,000 units of Federal Government valued at N4.438 million transacted last week in eight deals.
Twelve equities appreciated in price during the week, lower than fifty-six equities of the previous week. Sixty equities depreciated in price, higher than twenty equities of the previous week, while one hundred and eight equities remained unchanged higher than one hundred and four equities of the previous week.