LAGOS – The All-Share Index and market capitalisation depreciated by 1.08 per cent to close the week at 51,355.74 as the market capitalisation shed N304bn to close the week at N27.963 tn. The year-to-date returns for investors have now settled at 0.20 per cent.
Similarly, all other indices finished lower with the exception of NGX Main Board, NGX Pension, NGX Insurance, NGX AFR Div. Yield, NGX MERI Growth and NGX Consumer Goods which appreciated by 0.73 per cent, 1.44 per cent, 1.41 per cent, 0.80 per cent, 4.37 per cent and 0.17 per cent respectively while the NGX ASeM, NGX Growth and NGX Sovereign Bond indices closed flat.
However, indigenous conglomerate, Transcorp Corporation Plc, led the gainers’ chart of the Nigerian Exchange Limited in the last week as its share price appreciated by 44.97 per cent to close trading at N2.45, following the acquisition of over five per cent stake in the group by billionaire businessman, Femi Otedola.
During the past week, a total of 3.920 billion shares worth N15.620bn were traded in 16,856 deals by investors on the floor of the Exchange, in contrast to a total of 2.824 billion shares valued at N10.964bn that exchanged hands the previous week in 15,686 deals.
The Conglomerates Industry (measured by volume) led the activity chart with 3.050 billion shares valued at N5.964bn traded in 1,379 deals; contributing 77.81 per cent and 38.18 per cent to the total equity turnover volume and value respectively.
The Financial Services Industry followed with 707.962 million shares worth N6.175bn in 8,430 deals. The third place was the Consumer Goods Industry, with a turnover of 43.155 million shares worth N1.026bn in 2,223 deals.
Trading in the top three equities namely Transnational Corporation Plc, Access Holdings Plc and Fidelity Bank Plc (measured by volume) accounted for 3.302 billion shares worth N7.999bn in 2,375 deals, contributing 84.23 per cent and 51.21 per cent to the total equity turnover volume and value respectively.
During the four-day trading week, 35 equities appreciated in price during the week higher than 18 equities in the previous week.
Thirty-one equities depreciated in price lower than 39 in the previous week, while 90 equities remained unchanged, lower than 99 equities recorded in the previous week.
Projecting about the coming week, analysts at SCM Capital, “We expect mixed sentiments at the trading of next week. We believe that the current bullish trend is approaching a turning point as the earnings season comes to an end.”