Market Capitalization Depreciated Further at 1.18%

Nigerian Stock Exchange Nigeria Stock Exchange Floor, Photo Credit: EnterpriseNetwork.Africa

Market Capitalization Depreciated Further at 1.18%

Transactions on the trading floor of the Nigerian Stock Exchange (NSE) continued to depress as the NSE All-Share Index and Market Capitalization depreciated further at 1.18 per cent to close the week at 31,678.70 and N11.565 trillion respectively.

The market opened for four trading days this week as the Nigerian Government declared Tuesday 20th November 2018 a Public Holiday to mark the Eid-el-Maulud celebrations.

A total turnover of 1.282 billion shares worth N23.142 billion in 11,467 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.285 billion shares valued at N11.539 billion that exchanged hands last week in 13,245 deals.

Similarly, all other indices finished lower with the exception of the NSE Main Board, NSE Insurance, NSE Consumer Goods, NSE Oil and Gas and NSE Pension Indices that finished higher by 0.43 per cent, 1.38 per cent, 1.08 per cent, 0.25 per cent and 0.56 per cent respectively, while NSE ASeM Index closed flat.

Leading the activity chart, Financial Services Industry (measured by volume) led with 1.058 billion shares valued at N18.744 billion traded in 6,558 deals; thus contributing 82.48 per cent and 81.00 per cent to the total equity turnover volume and value respectively.

The Oil and Gas Industry followed with 96.818 million shares worth N644.178 million in 925 deals. The third place claimed by Consumer Goods Industry with a turnover of 83.134 million shares worth N3.244 billion in 2,114 deals.

Also, the top three (3) Equities namely Zenith Bank Plc, Diamond Bank Plc, and Oando Plc, (measured by volume) accounted for 877.505 million shares worth N16.146 billion in 1,423 deals, contributing 68.43 per cent and 69.77 per cent to the total equity turnover volume and value respectively.

The market recorded that thirty (30) equities appreciated in price during the week, while top ten (10) advancers includes Prestige Assurance Plc, P Z Cussons Nigeria Plc., Consolidated Hallmark Insurance Plc, Flour Mills Nig. Plc., Npf Microfinance Bank Plc, 11 Plc, Glaxo Smithkline Consumer Nig. Plc., Cap Plc, UACN Property Development Company Plc, and Veritas Kapital Assurance Plc.

Twenty-four (24) equities depreciated in price, while one hundred and fifteen (115) equities remained unchanged.

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