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NSE ROUNDUP: Financial services most active in a week trade volume dipped

NSE ROUNDUP: Financial services most active in a week trade volume dipped

The Nigerian bourse posted lacklustre performances across its key market indices this week.

The All Share Index (ASI) slumped by 0.54% to 26,855.52 basis points from the 27,002.15 recorded last week. Market Capitalisation equally responded to the negative trend, dipping by the same margin from the N13.033 posted last week to close at N12.962 trillion.

This week, Trade Volume of 952.697 million shares worth N12.774 billion was reported in 17,279 deals compared to the 1.161 billion shares valued at N13.174 billion posted in 18,142 deals last week.

On the Activity Chart, the Financial Services sector was the most active with 690.986 million shares estimated at N6.787 billion traded in 10,718 transactions. Put differently, it contributed 72.53% and 53.13% to the total equity turnover volume and value respectively. Next was the Conglomerate sector, which saw 101.908 million shares worth N701.283 million exchange hands in 974 deals. The Consumer Goods sector traded 57.636 million shares priced at N2.009 billion in 2,095 deals.

Read also: Online purchase tax may commence next month —FIRS

Regarding Index Movement, all indices depreciated save for the NSE Pension, NSE-AFR Div Yield, NSE Consumer Goods and NSE Lotus II. They grew by 0.03%, 1.54%, 1.71% and 0.97% respectively. However, the NSE ASeM Index closed flat.

MAJOR DEVELOPMENTS

Nigeria’s second largest brewer by market capitalisation, International Breweries Plc, formally informed the Exchange of its proposed rights issue. The capital-raising exercise would see the brewer offer 18,266,206,614 ordinary shares of 50k at N9 per share for subscription on the basis of 17 new ordinary shares for every 8 ordinary shares held as of Wednesday 6th November 2019.

Acceptance list had opened on Thursday 6th December 2019 and is scheduled to close on Thursday 24th December 2019.

Ronald Adamolekun

Ronald Adamolekun is a creative writer with a mixed bag of experience in fields as diverse as data journalism, financial reporting and editing.
Ronald Adamolekun

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Ronald Adamolekun

Ronald Adamolekun is a creative writer with a mixed bag of experience in fields as diverse as data journalism, financial reporting and editing.

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