Lagos (WorldStage Newsonline)-- Activities on the floor of the Nigerian Stock Exchange ended the week in a negative note as the market capitalization dropped by N14 billion or 0.2 per cent from N6. 546 trillion Thursday to N6.532 trillion today.

Consequently the All share index depreciated from 20,773.98 Thursday to close at 20,70.63.

The number of gainers at the close of trading session today was 30 decliners 13 while, a turnover of 1,153,355,230 shares worth N8.6 billion in 2,212 deals was recorded.

Meanwhile a turnover of 1.72 billion shares worth N11.9 billion in 7,309 deals was recorded this week, in contrast to a total of 1.55 billion shares valued at N7.993 billion exchanged last week in 15,494 deals.

The Financial Services sector accounted for 1.55 billion shares valued at N10.15 billion traded in 4,282 deals. The stock market opened for three days as Monday and Tuesday were declared public holidays to celebrate the Christmas and Boxing Day.

The Banking sub-sector of the Financial Services sector was the most active during the week (measured by turnover volume); with 1.35 billion shares worth N10.035 billion exchanged by investors in 3,766 deals. Volume in the Banking sector was largely driven by activity in the shares of First Bank of Nigeria Plc. Trading in the shares of the bank accounted for 843.311 million shares, representing 62.7per cent, 54.46per cent and 49.1 per cent of the turnover recorded by the subsector, sector and total turnover for the week, respectively.

The Insurance subsector of the Financial Services sector, boosted by activity in the shares of Universal Insurance Company Plc and Guinea Insurance Plc, followed on the week’s activity chart with a subsector turnover of 192.7 million shares valued at N108.75 million traded in 507 deals.

Last week, the Banking subsector led on the activity chart and was followed by the Insurance subsector, both from the Financial Services sector.

There were no transactions executed through the stock market in the Federal Government Development Stocks, State Government Bonds and Industrial Loans/Preference Stocks sectors. The NSE All-Share Index depreciated by 32.63 points or 0.15per cent to close on Friday at 20,730.63 while the market capitalization of the 186 First -Tier equities dropped to N6.533 trillion. Also, the NSE-30 Index depreciated by 7.99 points or 0.9per cent to close at 923.77. Last week, the NSE-ASI and NSE-30 Indices appreciated by 3.6 per cent and 4.0per cent, respectively.

Three of the four sectorial indices appreciated during the week compared with two that appreciated during the preceding week. The NSE Food/Beverage Index appreciated by 5.19 points or 0.9per cent to close at 589.60. The NSE Banking Index appreciated by 0.36 points or 0.14% to close at 274.26. The NSE Insurance Index appreciated by 0.06 points or 0.04per cent to close at 143.54. However, the NSE Oil/Gas Index depreciated by 0.96 points or 0.42per cent to close at 220.11. Please note that the points and percentage changes in the NSE Indices are calculated by computing the daily changes in the index values.

Thirty-three stocks appreciated in price during the week, lower than the forty-one of the preceding week. Dangote Cement Plc led on the gainers’ table with a gain of N5.27 or 5.0per cent to close at N110.77 per share while Guinness Nigeria Plc followed with a gain of N5.00 or 2.0per cent to close at N250.00 per share.

Twenty-nine stocks depreciated in price, lower than the thirty-two of the preceding week. Nigerian Breweries Plc led on the price losers’ table, dropping by N15.68 or (14.24per cent) to close at N94.42 per share while J7-Up Bottling Company Plc followed with a loss of N2.44 or (5.0per cent) to close at N46.47 per share.

Story by Nkechi Naeche (nkechinaeche@yahoo.com)