Nigeria’s equities market was dominantly bearish this week, with all but one trading session closing on an upbeat note as relentless profit-taking continued to eat away at stocks value.
Only the oil & gas and insurance indexes returned positive year-to-date returns of the five sector indexes tracked by the exchange at 5.15 per cent and 39.07 per cent respectively.
All the key market performance indicators declined this week. Market breadth, a barometer for investor sentiment, was negative as 37 laggards were reported against 33 gainers.
The all-share index and market capitalisation both fell 2.56 per cent, the former closing at 37,656.26 points and the latter at N19.627 trillion.
Trade volume of 1.006 billion shares estimated at N10.330 billion was recorded in 17,165 deals, relative to the 981.147 billion shares worth N10.384 billion that were traded in 15,001 deals last week.
The financial services industry led the activity chart, with 646.404 million shares valued at N5.199 billion and traded in 8,996 deals. It added 64.26 per cent and 50.33 per cent to the total equity volume and value respectively.
The consumer goods sector came next, trading 108.587 million shares estimated at N2.257 billion in 3,213 deals. The conglomerates sector was third, trading 80.257 million shares priced at N179.134 million in 614 deals.
All indices dropped except the NSE CG, NSE Banking, NSE Pension, NSE-AFR Bank Value, NSE AFR Div Yield, NSE MERI Growth, NSE Consumer Goods, NSE Oil/Gas and NSE Sovereign Bond which Improved by 0.37%,0.92%, 0.02%, 1.40%, 1.71%, 0.75%, 0.57%, 0.12%, and 0.26% in that order. The NSE Growth Index closed did not change.
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