Trading went down at the end of the week on the floor of the Nigerian Stock Exchange (NSE) with a turnover of 1.6 billion shares valued at 10.9 billion naira in 38,044 deals.
In contrast, a total of 1.8 billion shares worth 13.56 billion naira in 44,762 deals were exchanged the previous week, just as the market closed for this weeken d and Public Holiday declared by the Nigerian government to mark the Muslims Eid-Eil Kabir festival on Monday and Tuesday next week.
The Banking sub sector was the most active during the week measured in turnover volume with 794.54 million shares valued at 7.44 billion na ira exchanged by investors in 23,606 deals.
Volume in the banking sub sector was largely driven by activity in the shares of Spring Bank Plc, FirstInland bank Plc and First City Monument Bank (FCMB).
Trading in the shares of the three Banks accounted for 342.7 million shares, representing 43.13% of the subsector.
Insurance subsector followed on the activity chart with the shares of Investment And Allied Assurance Plc boosting the sector with a turnover of 331.6 million shares worth 385.9 million naira in 3,518 deals.
The All Share Index dropped by 7.2% to close at 30,653.65.
The market capitalization of the 198 First Tier Equities closed lower at 6.8 trillion naira.
Six stocks appreciated in price lower than the 18 in the previous week.
Union Bank of Nigeria Plc led on the gainers’ table with a gain of N0.53 to close at N17.63 per share while Union Homes Savings and Loans Plc followed with 0.21 to close at N3.71 per share.
Other price gainers are Custodian And Allied Assurance Plc, Consolidated Hallmark Insurance Plc, Benue Cement Co. Plc and Standard Alliance Insurance Plc among others.
Ninety-Two stocks depreciated in price, higher than the 81 the previous week.
Guinness Nig Plc led on the price losers, dropping by N21.22 to close at N72.70 per share with Oando Plc following with a loss of N17.84 to close at N61.15 per share.
Other price losers are: Nigerian Breweries Plc, Conoil Plc, 7UP Bottling Co. Plc, Ashaka Cement Plc, Costain (WA), UACN Property Dev.Co., UNILEVER Nig Plc and PZ Cussons Nigeria Plc.