The market again opened for four days during the week following Federal Government declaration of Wednesday 1st of May 2018 as public holiday to mark the Workers Day celebrations.
It was a bearish session for the four days trading last week on the floor of the Nigerian Stock Exchange week ended 3rd of May, 2019, as the All Share Index (ASI) and Market Capitalization depreciated by 1.78 % and 1.77% respectively.
The ASI which currently stood at 29,212 points lost 528 basic points during the week’s trading moving from 29,740 points. While Market Capitalization currently at N10,979 trillion lost by N198 billion from N11.177 trillion at the end of trading on 26th of April.
The week activities increased the ASI loss from the beginning of the year to 1,026 basic points representing 3% dip while Market Capitalization had lost N427 billion from week 1, 2019 representing 4% dip.
The Volume of shares traded during the week however increased by 48 million. Value of stocks traded also increased by N409 billion while the number of deals consummated follow suit as it increased by 2,750 from 15,342 the previous week to 18,092 as at week ended 3rd May,2019.
The Financial Services Industry maintained its dominance of market activities at the NSE with 618.1 million shares valued at N5.8 billion traded in 8,012 deals; thus contributing 76%, 64% and 58% to the total equity turnover volume, value and number of deals respectively.
The Financial Services Industry (measured by volume) led the activity chart with 610.138 million shares valued at N5.828 billion traded in 8,012 deals; thus contributing 41.5%, 37.6% and 44.3% to the total equity turnover volume, value and deals respectively.
No bank appeared in the top activities in volume of stocks traded in the week under review as Transnational Corporation of Nigeria Plc, Cement Company of Northern Nigeria Plc and Japaul Oil & Maritime Services Plc (measured by volume) accounted for 403.650 million shares worth N2.103 billion in 1,124 deals, contributing 27.46% and 13.57% to the total equity turnover volume and value respectively.
Jaiz Bank Plc is the only bank among the top 10 gainers at the NSE week ended 3rd of May 2019 as it gained 6k to close at 54k from 48k previous week. No bank featured among the top 10 decliners this week.