For the second consecutive week, the volume and value of bonds traded on the Nigeria Stock Exchange fell significantly, reflecting declining interest among investors.
Results of bonds traded last week, show that while the volume of bonds traded fell by 15.8 per cent, the value fell by 18.6 per cent. According to the report issued by the Nigeria Stock Exchange (NSE), “1,700 units of FGN bonds valued at N1.992 million were traded during the week in 18 deals in contrast to 2,020 units valued at N2.422 million transacted last week in 20 deals.” The previous week, the volume and and value of bonds traded fell by 20.34 per cent and 27.8 per cent respectively.
Meanwhile, despite decline in market activities, value of all equities listed on the main board of the NSE, also referred to as market capitalisation appreciated by N178 billion or 1.7 per cent to N10.722 trillion.
The appreciation was driven by strong price gains by some blue chip companies led by Nestle Plc, which gained N17, followed by Dangote Cement Plc, which also gained N13.5. Other top gainers were Okomu Oil (N6), Lafarge Wapco (N4.12) and Presco Plc (N1.6).
Market turnover which represent volume and value of equities traded dropped 38.6 per cent and 23.8 per cent respectively. According to the NSE, “ A turnover of 1.561 billion shares worth N16.636 billion in 25,255 deals were transacted this week on the floor of The Exchange in contrast to a total of 2.550 billion shares valued at N21.694 billion that exchanged hands last week in 29,335 deals.
The Financial Services sector accounted for 1.211 billion shares valued at N11.312 billion exchanged hands by investors in 15,414 deals.
‘Twenty two (22) equities appreciated in price during the week lower than forty-one (41) equities of the preceding week. Forty- five (45) equities depreciated in price higher than thirty-seven (37) equities of the preceding week. One hundred and thirty (130) equities remained constant during the week in contrast to one hundred and nineteen (119) equities of the preceding week.
“The Banking subsector of the Financial Services sector was the most active during the week (measured by turnover volume) with 921.900 million shares worth N9.471 billion exchanged by investors in 10,723 deals. Volume in the Banking subsector was largely driven by activities in the shares of Access Bank Plc, UBA Plc and Guaranty Trust Bank Plc. Trading in the shares of the three banks accounted for 453.380 million shares, representing 49.18% of the turnover volume recorded by the subsector for the week.
“The NSE All-Share Index appreciated by 556.80 points or 1.69% to close on Friday at 33.506.88 while the market capitalization of the listed equities on the mainboard increased to N10.722 trillion. Also, the Bloomberg NSE 30 Index appreciated by 18.88 points or 1.20% to close at 1,597.35.
Also, the NSE Lotus II appreciated by 77.58 points or 3.68% to close at 2,184.34. While the Bloomberg NSE Consumer Goods, Bloomberg NSE Banking, Bloomberg NSE Insurance, and Bloomberg NSE Oil/Gas depreciated by 0.94%, 1.32%, 0.86% and 1.36% respectively.” Click to signup for FREE news updates, latest information and hottest gists everyday
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