Exchange Nets 7.79bn Shares In March

The market statistics re
leased by the Nigerian Stock Exchange (NSE) has revealed that the capital market traded a total of 7.79 billion shares in March 2014.
The transaction showed a decline compared to 12.29 billion shares traded by investors in the  month of February.
NSE statistics  recorded a share value of N83.59 billion in 92,958 deals, in contrast  with the  shares value of N99.34 billion traded  by investors in 104,578 deals in February.
Share volume lost a total of 4.5 billion shares in the month of March, while the value of traded  equities depreciated by N15. 75 billion in the month  under consideration.
All-Share Index declined by 810.88 points to close lower at 38,748.01 points, compared to the  39,558.89 points recorded in the previous month.
Also, market capitalisation shed N261 billion, as it closed lower at N12.45 trillion, compared to N12.71 trillion  recorded  by NSE in February.
It would be recalled that the  capital market has not done well in recent time which market analysts have attributed to different factors affecting investors and the market at large.
Some blamed the suspension of the Central Bank Governor,  Mallam Sanusi Lamido for the  dwindling market while others blamed  Sanusi’s many policies, which  have brought uncertainity to the market and the investors.
However, wise investors have seen the present situation as an opportunity  to buy expensive shares at a very cheap rate, waiting for the return of the blue days in the capital market.
Meanwhile, transactions at the Exchange in March showed that the financial services sector remained the most active, as 6.31  billion shares valued at N46.04 billion exchanged hands in 52,945 deals.