It’s the first time since the middle of April that the market had a growth in the two market indices, thanks to the listing of the nation’s largest telecom company (MTN) during the week on the Nigerian Stock Exchange.
Both Market Capitalization and All Share Index appreciated this week by 0.08 percent and 17.29 percent respectively as at the end of trading on the 17th Of May, 2019.
The ASI currently stood at 28,871 basic points gained 24 points during the week under review moving from 28,847 points last week. While Market Capitalization currently stood at N12.717 trillion gained by N1.875 trillion from N10.842 trillion at the end of trading on 10th of May, 2019.
The week activities also increased the ASI loss from the beginning of the year to 1,367 basic points representing a 5 percent dip while Market Capitalization had grew by N1.281 trillion from week 1, 2019 representing 11 percent growth.
The Volume of shares traded during the week however decreased by 305 million. Value of stocks traded increased by N7.011 trillion while the number of deals consummated decreased by 2,420 from 20,470 to 18,380 as at week ended 17th May,2019.
The Financial Services Industry led the activity chart with 680.592 million shares valued at N7.395 billion traded in 11,035 deals; thus contributing 58 and 41 and 60 percent of the total equity turnover volume value and value respectively.
Trading in the Top Three Equities namely, Transnational Corporation of Nigeria Plc, Access Bank Nigeria Plc and Guaranty Trust Bank Plc (measured by volume) accounted for 421.064 million shares worth N4.681 billion in 3,073 deals, contributing 35.94% and 26.17% to the total equity turnover volume and value respectively.
No banks are among the top gainers this week while FCMB Group Plc, Wema Bank Plc and Access Bank Plc were among the top ten price decliners at the NSE week ended 17th of May 2019 as the stocks declined by 25k, 10k and 65k respectively to close at N1.55k, N0.62k and N6.45k respectively.