Equity transactions on the Nigerian Stock Exchange (NSE) fell by 58 percent to N9.88 billion last week as against N23.6 billion in the previous week partly due to the number of trading days which was reduced to four as a result of the Federal Government’s declaration of Friday June 12,2020 as a Democracy Day. Another contributing fact was low investor sentiment in the market. As a result, the number of deals fell to 16,616 last week compared with 22,911 deals in the previous week. Last week, 1.1 billion shares were traded last week as against 1.46 billion shares in the previous week.
It should be recalled that in 2019, the Nigerian government declared June 12 as the new Democracy Day for the country in honour of Nigeria’s fairest and freest presidential election held on June 12 1993 which was won by the late MKO Abiola but was annulled by the military regime headed by the former president Ibrahim Badamasi Babangida (IBB).
The All-Share Index(ASI) closed at 25,182.67 points last week, an improvement over 25,016.30 points in the previous week, implying that the ASI gained 166.37 points last week which translated to 0.67 percent week to date gain; -0.34 percent month to date loss; 18.23 percent quarter to date gain, and -6.18 percent year to date loss.
Other sectoral indexes in the positive territory year to date are the NSE Premium Index, 5.96 percent; NSE Insurance Index, 7.90 percent, NSE ASeM Index, 3.74 percent; NSE Afri Div Yield Index, 6.51 percent; NSE Lotus Islamic Index II, 0.36 percent, and the NSE Industrial Good Index which gained 10.92 percent year to date.
Daily analysis of the transactions last week showed that investors bought 230.49 million shares on Monday June 8 worth N2.17 billion in 4, 621 deals. At the end of the trading that day, 96 stocks were traded as 31 equities advanced in prices, 11 shed prices while the prices of 54 stocks remained unchanged.
The volume of equities traded on Tuesday was higher at 268.7 million, but value of transaction fell to N1.12 billion even as 96 stocks were traded. More stocks made it on the losers’ chat with 22 stocks shedding different amounts and only 13 stocks gained, while 61 stocks had their prices unchanged.
On Wednesday June 10, market participants traded 266.6 million shares worth N3.18 million in 3,978 deals. There was no victor nor vanquished as out of 94 stocks that were traded, 19 apiece gained and lost, while 56 had their prices unchanged.
The last trading day of the week saw investors trade 337.1 million shares in 3,880 deals. 98 stocks were traded but in reflection of the market sentiment, only 16 equities gained, 17 lost while 65 had their prices unchanged.
By volume the financial services dominated the activity chart for the week. Investors traded 814.2 million shares worth N7.18 billion representing 73.8 percent and 72.8 percent of the total market volume and value.
The oil and gas sub sector recorded 66.8 million shares worth N143 million in 1,044 deals. The consumer goods recorded 57.8 million shares worth N1.02 billion in 2,559 deals.
in other segments of the market, investors traded 767.768 units of ETPs worth N5.6 billion last week, as against 288,122 units traded in the previous week worth N3.9 billion in 9 deals.
Similarly, government’s bonds numbering 1,002 units worth N971,140.42 were traded in 9 deals in contrast to 2,785 units worth N3.11 million traded in the previous week in 6 deals.
