In the trading week ended Friday February 17, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation depreciated by 0.96percent to close the week at 53,804.46 points and N29.310 trillion respectively.
Thirty-six equities appreciated in price during the review week higher than 24 equities in the preceding week. Twenty-seven equities depreciated in price lower than 45 in the preceding week, while 94 equities remained unchanged, higher than 88 equities recorded in the preceding week.
“Over the course of the week, we have seen a correlation between performance of the market with that of the NGX30, as these large-cap counters dictate market direction. With elections starting next week, we expect a relatively quiet trading week, amid a cautious trading pattern,” Vetiva research analysts said on Friday.
All other indices finished lower with the exception of NGX Premium, NGX Insurance, NGX MERI Growth, NGX Consumer Goods, NGX Oil and Gas, NGX Industrial Goods and NGX Growth indices which appreciated by 0.54percent, 1.18percent, 0.44percent, 0.67percent, 0.91percent, 0.06percent and 7.15percent respectively while the NGX ASeM and NGX Sovereign Bond indices closed flat.
The market recorded total turnover of 751.990 million shares worth N20.575 billion in 15,822 deals, in contrast to a total of 944.293 million shares valued at N22.710 billion that exchanged hands the preceding week in 18,615 deals.
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The Financial Services Industry (measured by volume) led the activity chart with 508.517 million shares valued at N6.212 billion traded in 6,877 deals; thus contributing 67.62percent and 30.19percent to the total equity turnover volume and value respectively.
The Consumer Goods Industry followed with 86.346 million shares worth N4.806 billion in 2,562 deals and the Industrial Goods Industry, with a turnover of 34.305 million shares worth N3.635 billion in 1,305 deals.
Trading in the top three equities namely Guaranty Trust Holding Company Plc, United Bank for Africa Plc and FBN Holdings Plc (measured by volume) accounted for 249.667 million shares worth N3.915 billion in 1,984 deals, contributing 33.20 percent and 19.03 percent to the total equity turnover volume and value respectively.
