Menu

It was the fourth consecutive week of declines for the benchmark stock index of the Nigerian Stock Exchange (NSE) last week as the All Share Index (ASI) fell by 3.98 percent during the trading week ended on Friday, July 22.

The index fell to 27,659.44 points last week, down from 28,805.45 points the previous week. The ASI reached a 2016 high of 31,071.25 points on June 23, but it has since declined by 11 percent. On a year-to-date basis, the index has fallen by 3.43 percent.

Market capitalization also fell by 3.98 percent last week, closing at N9.5 trillion, as against N9.893 trillion recorded the previous week.

On the gainers’ chart, the most appreciated stocks last week were: Skye Bank, which rose 41.67 percent to close at 85 kobo; Forte Oil, which rose 8.11 percent to close at N194.9; Premier Breweries appreciated 4.98 percent to close at N2.95; while Berger Paints Nigeria’s stock rose 4.97 percent to N8.03; and Trans Nationwide Express gained 4.95 percent to close at N1.06.

On the losers’ chart, the most depreciated stocks were: Oando, which fell 25.58 percent to close at N5.12; Livestock Feeds dropped 17.76 percent to 88 kobo; Stanbic IBTC Holdings declined 16.13 percent to N13; while Ecobank Transnational Inc’s stock price fell 15.41 percent to N11.8; and Transcorp dropped 14.56 percent to close at N1.35.

The Financial Services Industry led the activity chart with 1.148 billion shares valued at N4.861 billion and were traded in 11,668 deals. The sector contributed 85.01 percent and 52.34 percent to the total equity turnover volume and value, respectively.

The Conglomerates Industry followed with 73.190 million shares which traded in 1,058 deals and were valued at N238.895 million. In third place was the Consumer Goods Industry which has a turnover of 60.336 million shares worth N2.409 billion trading in 3,041 deals.

The top three most traded equities last week were – Skye Bank, United Bank for Africa and FBN Holdings – which accounted for 573.927 million shares valued at N1.250 billion and trading in 3,745 deals. The equities contributed 42.51 percent and 13.46 percent to the total equity turnover volume and value, respectively.