Nigerian stocks wobble, end week lower

The Nigerian stock market finished lower this week as it wobbled between small gains and losses.

The All-Share Index of the Nigerian Exchange Limited and the market capitalisation depreciated by 0.05 percent to close the week at 52,187.93 and N28.417 trillion respectively.   

All other indices finished higher with the exception of NGX Main Board, NGX 30, NGX Oil & Gas, NGX Lotus II, NGX Industrial Goods, and NGX Growth, which depreciated by 0.64 percent, 0.09 percent, 1.67 percent, 0.66 percent, 0.03 percent and 0.32 percent respectively while the NGX ASeM and NGX Sovereign Bond indices closed flat.

A total turnover of 3.029 billion shares worth N33.626 billion in 29,505 deals was traded this week by investors on the floor of the Exchange, compared to 3.602 billion shares valued at N36.451 billion that exchanged hands last week in 27,801 deals.  

The financial services industry led the activity chart with 2.095 billion shares valued at N21.847 billion traded in 14,008 deals, thus contributing 69.17 percent and 64.97 percent to the total equity turnover volume and value respectively. 

The conglomerates industry followed with 398.558 million shares worth N1.185 billion in 3,129 deals, while the third place was occupied by the services industry, with a turnover of 270.111 million shares worth N1.853 billion in 1,317 deals.  

Trading in the top three equities, namely Fidelity Bank Plc, Access Holdings Plc and Transnational Corporation Plc, accounted for 1.328 billion shares worth N8.159 billion in 5,286 deals, contributing 43.84 percent and 24.26 percent to the total equity turnover volume and value respectively. 

Forty-four equities appreciated in price during the week, compared to 48 equities in the previous week. Twenty-seven equities depreciated as against 30 in the previous week, while 85 remained unchanged as against 78 in the previous week.