Trading on the floor of the Nigerian Stock Exchange closed Monday on a bearish note as the All Share Index depreciated by 1.8%, as 20 stocks posted gains while 16 stocks dropped in share price. Market Capitalization also closed lower at N13, 050 Trillion.
As a result of bargain hunting across bellwether stocks – GUARANTY (+5.28%), NESTLE (+2.94% ), NB (+5.00%) – the Nigerian equities market halted its three-week losing streak, as the benchmark index increased by 0.39% to settle at 29,966.87 points, while market capitalization also closed higher at N13.206 trillion.
The Financial Services industry (measured by volume) led the activity chart with 1.336 billion shares valued at N17.894 billion traded in 8,783 deals; thus contributing 75.44% and 63.82% to the total equity turnover volume and value respectively. The Consumer Goods industry followed with 115.835 million shares worth N5.282 billion in 2,969 deals.
The third place was Industrial Goods industry with a turnover of 90.705 million shares worth N1.707 billion in 1,991 deals. Trading in the Top Three Equities namely, Zenith Bank Plc, Guaranty Trust Bank Plc and Wema Bank Plc (measured by volume) accounted for 840.903 million shares worth N15.266 billion in 2,938 deals, contributing 47.49% and 54.45% to the total equity turnover volume and value respectively.
A total of 505,460 units valued at N39.278 million were traded this week in 27 deals compared with a total of 662 units valued at N990,530.00 that was transacted last week in 4 deals.
Similarly, all other indices finished higher with the exception of the NSE Premium, NSE Insurance, NSE-AFR Bank Value, NSE AFR Div Yield, NSE MERI Value and NSE Industrial Goods, which depreciated by 0.58%, 1.51%, 0.54%, 0.75%, 2.71% and 0.04% respectively. NSE ASeM Index closed flat (See summary of Index movements in the table below).
Thirty-six (36) equities appreciated in price during the week, higher than Thirty-four (34) in the previous week. Thirty-two (32) equities depreciated in price, lower than Thirty-three (33) equities in the previous week, while one hundred (100) equities remained unchanged, lower than one hundred and one (101) equities recorded in the preceding week.