NSE: New pricing methodology week closes market bearish

. As capitalization loses 2.09 per cent

For the week ended 2nd February ,2018, the equities market’s key performance indices declined following sustained investor sentiment ostensibly triggered by the new pricing methodology.

The NSE All -Share Index and Market Capitalization depreciated by 1.98 per cent and 2.09% to close the week at 44,639.99 and N16.019 trillion, respectively.

All other indices finished higher during the week with the exception of the NSE -Main Board, NSE Consumer Goods and NSE Oil/Gas Indices that depreciated by 0.33 per cent, 3.33 per cent and 0.70 per cent respectively while the NSE ASeM Index closed flat.

At the end iof the week , 10 insurance companies traded below the par value price of 50 kobo, reinforcing expected development this week that more companies would fall belo w50 kobo pricing.

During the week, a lesser number of equities were traded when compared with the receding week, as total turnover of 3.268 billion shares worth N28.123 billion in 35,761 deals were traded by investors on the floor of the Exchange in contrast to a total of 7.157 billion shares valued at N42.545 bn that exchanged hands in the preceding week in 39,037 deals.

The Financial Services Industry measured by volume led the activity chart with2..482 billion shares valued at N17.056bn traded in 23,039 deals; thus contributing 75.96 per cent and 60.65 per cent to the total equity turnover volume and value, respectively.

The Conglomerates Industry followed with 375.113 million shares worth N1.047bn in1,968 deals. The third place was occupied by Consumer Goods Industry with a turnover of 262.198million shares worth N6.84bn in 5,921 deals.

Trading in the Top Three Equities namely FCMB Group, Transnational Corporation of Nigeria , and Skye Bank measured by volume accounted for 1.181 billion shares worth N2.830bn in 5,219 deals, contributing 36.14% and 10.06% to the total equity turnover volume and value, respectively

Also traded during the week were a total of 32,189 units of Exchange Traded products (ETPs) valued at N1.299m executed in 19deals , compared with a total of 153,755 units valued at N1.883m that was transacted last week in 11deals.

A total of 16,268 units of Federal Government Bonds valued at N17.0m were traded this week in 28deals, compared with a total of6,715 units valued at N5.318m transacted last week in 15 deals

Stories by Bonny Amadi