Equities market loses N15.5bn in five days

Despite the record gains in three trading session last week, equities trading on the Nigerian Stock Exchange (NSE) closed the week bearish as the All Share Index (ASI) depreciated by 0.12 per cent to settle at 24,306.36 basis points.

In the same vein, market capitalisation dropped by N15.53 billion during the week, closing at N12.68 trillion from the previous weekend’s N12.7 trillion, representing a 0.12 per cent value loss.

Analyses indicate that the ASI opened the week on a negative note, losing 1.27 per cent on selloffs among high cap stocks, before Tuesday’s rebound when it gained 0.30 per cent amidst buying interests in banking stocks triggered by notifications of closed periods filed by directors of Zenith Bank and Guaranty Trust Bank.

This was sustained at the midweek when the NSE index climbed 0.75 per cent up but stayed flat on Thursday as selloffs continued in the mid of position-taking in banking stocks, before closing higher on Friday when it gained 0.12 per cent as high cap stocks recorded value gain.

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The local bourse closed the week under review with a total turnover of 901.542 million shares worth N13.453 billion in 18,676 deals. This is in contrast to a total of 961.833 million shares valued at N9.181 billion that exchanged hands in the preceding week in 20,058 deals.

The Financial Services industry, measured by volume, led the activity chart with 629.368 million shares valued at N5.186 billion traded in 9,887 deals; thus contributing 69.81 per cent and 38.55 per cent to the total equity turnover volume and value respectively.

The ICT industry followed with 59.506 million shares worth N5.161 billion in 684 deals. The third place went to the Consumer Goods industry, with a turnover of 57.136 million shares worth N1.385 billion in 2,993 deals.

Trading in the top three equities namely; Guaranty Trust Bank Plc, Fidelity Bank Plc and Zenith Bank Plc (measured by volume) accounted for 293.678 million shares worth N4.042 billion in 4,334 deals, contributing 32.58 per cent and 30.05 per cent to the total equity turnover volume and value respectively.

25 equities appreciated in price during the week, higher than 13 equities in the previous week. 33 equities depreciated in price, lower than 59 equities in the previous week, while 105 equities remained unchanged, higher than 91 equities recorded in the previous week.


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