NSE Transactions Depreciate Further, Leaves Weekly Records In Red

Trading activities on the
floor of the Nigerian Stock Exchange (NSE) dropped by 0.92 per cent last week, dashing investors’ hope of a possible rally.
NSE All-share index and market capitalization on Friday closed at 34,388.21 and N11.678 trillion, respectively, as the market witnessed five days of consecutive losses.
Similarly, five indices finished lower during the last week with the exception of the NSE Banking Insurance and NSE Industrial Good indices that rose by 2.02 per cent, 0.57 per cent and 1.42 per cent, respectively.
A weekly report by the NSE recorded a turnover of 1.584 billion. The report noted that trading in the top three equities namely, United Bank for Africa Plc, Transnational Corporation of Nigerian Plc and Access Bank Plc accounted for 678.964 million shares worth N3.247 billion in 2,943 deals, contributing 42.85 per cent and 16.11 per cent to the total equity turnover volume and value respectively.
A weekly report by the NSE recorded a turnover of 1.584 billion.
Shares valued at N20.151 billion in 23,299 deals were traded last week by investors on the floor of the NSE in contrast to a total of 1.169 billion shares valued at N11.961 billion which exchanged hands the previous week in 17.769 deals.
The financial services industry led the week activity chart with 1.088 billion shares valued at N8.991 billion which exchanged hands in 13,220 deals. The record contributes 68.66 per cent and 44.62 per cent to the total equity turnover volume and value, respectively.
The conglomerates industry followed with a turnover of 227.840 million shares, valued at N920.617 million in 1,082 deals.
Consumer goods industry ranked  third with 121.859 million shares worth N7.703 billion in 4,123 deals.
The report showed that a total of 1.388 million units of exchange traded products valued at N31.490 million were executed in 47 deals last week compared with a total of 11.737 shares valued at N1.999 million which exchanged hands in 15 deals the previous week.