Trading activities on the exchange closed the week on the downturn as investors demand from stocks continue to fail.
Investors stated N18.73 billion in 2.45 billion shares in 39,606 deals last week in contrast to N24.63 billion invested on 3.11 billion shares in 41,079 deals in the preceding week.
The banking sub-sector was the most active during the week with a turnover of 1.44 billion shares worth N14.56 billion exchange in 20,689 deals.
The volume in the banking sub-sector was largely driven by activity in the shares of United Bank for Africa Plc and Skye Bank Plc.
Transactions in the share of the two banks accounted for 802.22 million shares, amounting to about 56 per cent of the sub-sector’s turnover.
The insurance sub-sector followed on the activity chart boosted by the shares of International Energy Insurance Plc with a turnover of 280.65 million shares and Allco Insurance Plc with a volume of 107.29 million shares, accounted for 387.94 million shares, representing about 59.8 per cent of the sub-sector’s turnover.
Similarly, the all share index which opened the week at 25,382.50 points dropped by 4.51 per cent to close last Friday at 24,237.85 points while the market capitalisation of quoted companies fell by 4.5 per cent to close at N5.556 trillion last Friday.
The NSE-30 index equally shed 4.7 per cent to close at 883.58 while three of the four sectoral indices including food beverages dropped 2.2 per cent to close at 494.83, banking index depreciated by 5.8 per cent to close at 389.75, oil/gas index down by 0.64 per cent and insurance index rose by 1.1 per cent to close at 347.60.
In the price movement, 89 stocks depreciated in value during the week much higher than 68 stocks recorded in the preceding week.
Benue Cement Company led the losers’ chart with N6.65 to close at N42.35 while two petroleum marketing products companies: Total Nigeria and Chevron oil followed with a loss of N6.50 and N4.47.
Other losers included Nigeria Breweries with a loss of N4.14 Lafarge Wapco depreciated by N3.40, African Petroleum N3.32, Julius Berger down by N3.27, Nigerian Enamelware N2.94, UACN N2.50 and NAHCO N2.36, among others.
On the upward side, 27 stocks appreciated in price during the week which was lower than 40 stocks recorded in the preceding week.
Nestle Nigeria led the gainers’ list with N13.65 to close at N212.10, Guinness Nigeria came next with N4.50 to close at N144.00, Mobil added N4.00.
Oando rose by N2.20, Unilever Nigeria gained N1.04, ETI N1.04 and Longman94 kobo.
Also, seven-up bottling grew by 49 kobo, Stanbic IBTC 44 kobo and university press up by 38 kobo.
Four equity prices were adjusted for dividend and/or bonus as recommended by the board of directors.
Red star express plc was adjusted for dividend of 30 kobo per share, consolidated Hallmark Insurance adjusted for dividend of five kobo, NAHCO for dividend of 25 kobo and bonus of one for four while International Energy Insurance was adjusted for dividend of five kobo and bonus of one for six.