Equities trading at the Nigerian Exchange Limited was not impressive last week as the bears resurfaced leaving the All-Share Index (ASI) lower by 0.45 per cent Week-on-Week (WoW).
Notably, profit-taking activities on the stocks of Nigerian Breweries, International Breweries, Wapco and Zenith Bank led to the weekly loss as their share prices depreciated by 10.9 per cent, 6.9 per cent, 6.7 per cent and 6.5 per cent, respectively.
Thus, equities investors lost N127 billion in five days as the market capitalisation settled at N28.03 trillion, while the ASI settled the week at 51,979.92 basis points.
Consequently, the Month-to-Date (MtD) and Year-to-Date (YTD) returns moderated to +0.3 per cent and +21.7 per cent, respectively.
Last week, 19 equities appreciated in price lower than 20 in the previous week, while 36 equities depreciated in price higher than 32 in the previous week. Meanwhile, 101 equities remained unchanged lower than 104 equities recorded in the previous week.
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According to data from the local bourse, analyses of performance by sectors indicated that the Banking, Consumer Goods and Industrial Goods indices declined by 4.1 per cent, 2.0 per cent and 0.5 per cent, respectively; while the Oil and Gas and Insurance indices advanced by 3.8 per cent and 1.8 per cent, respectively.
However, activity levels were upbeat, as trading volume and value increased by 81.9 per cent WoW and 96.9 per cent WoW, respectively.
Last week, a total turnover of 917.190 million shares worth N14.803 billion in 19,513 deals was traded in contrast to a total of 504.322 million shares valued at N7.517 billion that exchanged hands in 12,393 deals in the penultimate week.
The Financial Services Industry, measured by volume, led the activity chart with 648.207 million shares valued at N6.258 billion traded in 9,293 deals; thus contributing 70.63 per cent and 42.27 per cent to the total equity turnover volume and value respectively.
The Consumer Goods Industry followed with 102.605 million shares worth N3.211 billion in 3,016 deals. The third place was the Conglomerates Industry, with a turnover of 36.218 million shares worth N193.474 million in 562 deals.
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Stock market shed N127bn in 5 days as ASI dips by 0.5% (WoW)
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Stock market shed N127bn in 5 days as ASI dips by 0.5% (WoW)
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