NSE halts weekly gains, as ASI dips 0.77%

Weekly gains came to a halt on the Nigerian bourse as the All Share Index (ASI) recorded its first loss in five days on Tuesday, following selloffs in some high-profile banking, consumer goods, and oil & gas companies.

A review of last week’s performance had the ASI that decline further in Wednesday and Friday’s sessions, resulting in a week loss of 0.77 percent to close the week at 25,454.93 points. All other Indices finished lower during the week with the exception of the NSE Lotus and NSE Industrial Goods Indices that appreciated by 0.35 percent and 5.14 percent, as the ASEM Index closed flat.

The Market Capitalization also dipped 0.80 percent to close the week at N8.807 trillion.
During the week, investors traded a total turnover of 1.309 billion shares worth N10.323 billion in 13,042 deals in contrast to a total of 1.029 billion shares valued at N7.980 billion that exchanged hands previous week in 13,441 deals.

The Financial Services Industry maintained its lead on the activity chart by volume as it moved 1.139 billion shares valued at N6.028 billion traded in 7,518 deals; contributing 87.01 percent and 58.39 percent to the total equity turnover volume and value respectively.
The Consumer Goods Industry followed with 71.209 million shares worth N2.306 billion in 2,261 deals. The third place was occupied by Services Industry with a turnover of 29.390 million shares worth N24.594 million in 258 deals.

Top three traded Equities also by volume last week were Continental Reinsurance Plc, Custodian And Allied Insurance Plc and FBN Holdings Plc. They accounted for 565.746 million shares worth N1.450 billion in 914 deals, contributing 43.22 percent and 14.04 percent to the total equity turnover volume and value respectively.

Market breadth closed negative for the week ended 24th March, 2017 as 16 equities led by Lafarge appreciated in price, lower than 31 equities of the previous week.
On the other hand Guinness led 35 equities that depreciated in price, higher than 22 equities of the previous week, while 126 equities remained unchanged higher than 124 equities recorded in the preceding week.

A total of 18,144 units of Federal Government Bonds valued at N17.555 million were traded this week in 12 deals, compared with a total of 8,390 units valued at N8.203 million transacted last week in 4 deals.

Also traded during the week were a total of 11,585 units of Exchange Traded Products (ETPs) valued at N144,678.50 executed in 5 deals compared with a total of 20 units valued at N90.90 transacted last week in 2 deals.