The Nigerian equities market recorded an increase of 98 percent in total value of equities traded in the first trading week of the year 2017, despite the fact that week was largely bearish.
The week which had only four trading sessions out of which the first three sessions closed in negative territory, while the last trading day (Friday) closed uptick, recorded a 2.32 percent decline in market indicators.
The NSE All-Share Index and Market Capitalization closed the week at 26,251.39 and N9.032 trillion respectively as all other Indices finished lower during the week. This is in contrast to previous week when The NSE All-Share Index and Market Capitalization appreciated by 1.47 percent to close the week at 26,874.62 and N9.247 trillion respectively, while all other Indices finished higher during the previous week with the exception of the NSE ASeM, NSE Oil/Gas and NSE Industrial Goods Indices that depreciated by 2.35 percent, 1.47 percent and 0.15 percent respectively.
However, statistics from the NSE’s weekly capital market report, showed turnover and value grew 964 percent and 98 percent respectively, as total turnover of 4.319 billion shares worth N7.376 billion in 9,330 deals were traded last week by investors on the floor of the Exchange in comparison with a total of 405.939 million shares valued at N3.724 billion that exchanged hands previous week in 6,363 deals.
Top three traded equities in volume terms were Unity Kapital Assurance Plc, Omoluabi Savings and Loans Plc and FCMB Group Plc. They accounted for 3.863 billion shares worth N3.013 billion in 286 deals, contributing 89.45 percent and 40.85 percent to the total equity turnover volume and value respectively.
Eighteen equities led by UACN property Development Company (UACN) appreciated in price during the week, lower than thirty-seven equities of the previous week. Thirty-one equities topped by Nigerian Aviation Handling Company (NAHCO) depreciated in price, higher than twenty-one equities of the previous week, while one hundred and twenty-six equities remained unchanged higher than one hundred and seventeen equities recorded in the preceding week.
Topping the activity chart in terms of volume, for the week was the Financial Services Industry with 4.177 billion shares valued at N5.306 billion traded in 5,047 deals. The Financial Services Industry thus contributed 96.71 percent and 71.94 percent to the total equity turnover volume and value respectively.
Coming next was the Oil and Gas Industry with 65.827 million shares worth N594.522 million in 1,385 deals, while the third place was occupied by Conglomerates Industry with a turnover of 26.487 million shares worth N48.163 million in 299 deals.
Also traded during the week were a total of 55 units of Exchange Traded Products (ETPs) valued at N505.65 executed in 11 deals, compared with a total of 9,965 units valued at N56,446.35 transacted last week in 16 deals. A total of 5,100 units of Federal Government Bonds valued at N5.120 million were traded this week in 2 deals, as against no bond transaction last week.