It was bearish quarter as major fundamentals at the Nigerian Stock Exchange head downwards in quarter 2, 2018.The All Share Index (ASI) depreciated by 7.7% in the second quarter of 2018 to close at 38’278 from 41,505 it closed the first quarter of the year with.
The Market Capitalization also depreciated by 7.5% loosing 1.137 trillion Naira to close at N13.866 trillion compared to 14.993 trillion it closed quarter 1, 2018 with.
Below is the weekly trends in All Share Index in the first quarter of 2018
The ASI peaked at the 4th Week In April reaching the quarter highest at 41,244 basic points. The lowest point in the quarter was the start of June when the ASI dropped to 36,816 points.The first quarter peak in mid January remains the highest this year at over 45,000 basic points.
Market Capitalization trends
Trends in Market Capitalization is not different from ASI. Market Capitalization peaked at late June reaching the quarter high of N14.94trillion. Early June was also the periods when the Market Capitalization was at its lowest in the quarter. It dropped to N13.3 trillion and eventually closed the quarter at N14.8 trillion. Mid January Market Cap was also the highest in the year at above N16 trillion.
The financial sector maintains its dominance of the stock market in the 2nd quarter of 2018 just as it did in the first quarter, evidencing its most developed status of all sectors in the Nigerian Stock Exchange in quarter 2, 2018. The sector remains most active in volume, value and number of deals in the Nigerian Stock Exchange during the quarter under review.
The financial sector was responsible for 80% of the total volume of stocks traded in Nigerian Stock Exchange quarter 2, 2018. The sector also accounted for 72% of the value and 61% of all deals on the floor in this period.
In the Exchange Traded Product, a total of 2.5million units of products were exchanged in 160 deals valued at 28.2million Naira in quarter 2, 2018, compared to 4.6million units of products traded in 151 deals valued at 23.6 million Naira in quarter 1, 2018.
In the Bond Market, a total of 160,820 units of both Federal and State government bonds were traded in 168 deals valued at 161.960million Naira. Compared to 140,008 units of federal government bonds at the value of N2.78billion in 248 deal traded in Qtr 1, 2018.