Market capitalization drops by N82bn, FCMB, Fidelity most traded

Nigeria’s stock market closed with a depreciation of 0.92 percent in lead market indices this week when it opened for four trading sessions, as the country observes Friday 14th and Monday 17th as public holiday to commemorate Easter celebrations.

The NSE All-Share Index lost 0.92 percent or 236.51 basis points and closed the week at 25,510.01 points.

Market Capitalization also depreciated 0.92 percent or N82 billion to close the week at N8.827 trillion.

A review of sectoral indices also showed that they all finished lower during the week with the exception the NSE ASeM Index that closed flat.

Equities performance was also poor as 13 equities recorded growth this week, this is in contrast to 36 equities that recorded growth last week.

37 equities depreciated in price, higher than 22 equities last week, while 127 equities remained unchanged higher than 119 equities recorded in the preceding week.

Meanwhile, a total turnover of 1.191 billion shares worth N6.037 billion in 11,820 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 786.176 million shares valued at N5.828 billion that exchanged hands last week in 14,343 deals.

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The Financial Services Industry (measured by volume) led the activity chart with 1.014 billion shares valued at N3.070 billion traded in 6,700 deals; thus contributing 85.07 percent and 50.86 percent to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 51.888 million shares worth N1.581 billion in 2,025 deals.

The third place was occupied by Conglomerates Industry with a turnover of 47.517 million shares worth N66.904 million in 542 deals.

Trading in the Top Three Equities by volume were Fidelity Bank Plc, FCMB Group Plc and Standard Trust Assurance Plc. They accounted for 679.949 million shares worth N639.862 million in 1,622 deals, contributing 57.06 percent and 10.60 percent to the total equity turnover volume and value respectively.

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Also traded during the week were a total of 16 units of Exchange Traded Products (ETPs) valued at N1,088.00 executed in 1 deal compared with a total of 1,510 units valued at N4,113.20 transacted last week in 3 deals.

A total of 4,800 units of Federal Government Bonds valued at N4.892 million were traded this week in 10 deals, compared with a total of 11,064 units valued at N10.256 million transacted last week in 21 deals.