• Wednesday, February 21, 2024
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BusinessDay

Stock market dips by 0.48% in week ended May 12

How pre-election years impact equities, fixed income markets  – Uwaleke

In the trading week ended Friday May 12, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation depreciated by 0.48percent to close at 52,214.62 points and N28.431 trillion respectively.

Forty-eight equities appreciated in price during the review week, lower than 51 equities in the preceding week. Thirty equities depreciated in price higher than 26 in the preceding week, while 78 equities remained unchanged, lower than 79 recorded in the preceding week.

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In the review trading week all other indices finished higher with the exception of NGX Main Board, NGX 30, NGX Banking, NGX AFR Bank Value, NGX MERI Value, NGX Industrial Goods, and NGX Sovereign Bond which depreciated by 0.85percent, 0.12percent, 0.99percent, 1.45percent, 1.11percent, 3.36percent and 4.83percent respectively while the NGX ASeM index closed flat.

The market recorded total turnover of 3.602 billion shares worth N36.451 billion in 27,801 deals, in contrast to a total of 2.973 billion shares valued at N22.828 billion that exchanged hands in the preceding trading week in 23,765 deals.

The Financial Services Industry (measured by volume) led the activity chart with 3.150 billion shares valued at N27.484 billion traded in 14,987 deals; thus contributing 87.47percent and 75.40percent to the total equity turnover volume and value respectively. It was followed by the Conglomerates Industry with 99.394 million shares worth N219.455 million in 901 deals, and the Consumer Goods Industry, with a turnover of 87.434 million shares worth N1.628 billion in 3,768 deals.

Trading in the top three equities namely Fidelity Bank Plc, Access Holdings Plc, and FBN Holdings Plc, (measured by volume) accounted for 2.167 billion shares worth N18.650 billion in 5,083 deals, contributing 60.17percent and 51.16percent to the total equity turnover volume and value respectively.