NSE Index Drops 4.39% As Trading Closes Week in Red Zone

Equities trading on the floor of the Nigerian Stock Exchange, NSE, closed last week on a negative note as the All-Share Index and shed 4.39% at 27,634.42 points on Friday, June 3.

Likewise, all other Indices closed the four-day trading week on a lower note.

Twelve equities leaped in price during the week, lower than 56 equities of the previous week, while sixty equities depreciated in price, higher than 20 equities of the previous week, while 108 equities remained unchanged higher than 104 equities of the previous week.The Financial Services Industry led the activity chart with 1.024 billion shares valued at N5.983 billion traded in 10,686 deals; thus contributing 81.07% and 51.65% to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 83.240 million shares worth N3.595 billion in 2,650 deals. The third place was occupied by the Conglomerates Industry with a turnover of 74.979 million shares worth N121.593 million in 715 deals.

Trading in the Top Three Equities namely – United Bank For Africa Plc, FBN Holdings Plc and Zenith International Bank Plc.(measured by volume) accounted for 418.707 million shares worth N2.858 billion in 4,405 deals, contributing 33.14% and 24.68% to the total equity turnover volume and value respectively.

A turnover of 1.263 billion shares worth N11.583 billion in 17,434 deals were traded during the week by investors on the floor of the Exchange in contrast to a total of 2.338 billion shares valued at N14.789 billion that exchanged hands last week in 24,942 deals.