Nigerian Stock Market Closed in the Red in the First Week of the Year

The Nigerian Stock Exchange pulled back in the first week of the year after recording a 50.3 percent gain in 2020.

The market capitalisation of listed equities declined by 0.37 percent to close the week at N20.978 trillion while the NSE All-Share Index dipped by the same 0.37 percent or 150.50 index points to 40,120.22 index points, down from 40,270.72 index points.

During the week, investors traded a total turnover of 3.394 billion shares worth N19.867 billion in 26,808 deals, against a total of 1.806 billion shares valued at N25.966 billion that exchanged hands last week in 14,634 deals.

In terms of volume traded, the Consumer Goods Industry led the activity chart with 2.026 billion shares valued at N7.503 billion traded in 4,031 deals; thus contributing 59.70 percent and 37.77 percent to the total equity turnover volume and value respectively.

The Financial Services Industry followed with 939.288 million shares worth N7.820 billion in 14,020 deals. The third place was Conglomerates Industry, with a turnover of 139.882 million shares worth N182.151 million in 885 deals.

Champion Breweries Plc, Transnational Corporation of Nigeria Plc and Access Bank Plc were the three most traded equities during the week with a combined 2.144 billion shares valued at N6.002 billion in 1,971 transactions. Therefore, the three contributed 63.18 percent and 30.21 percent to the total equity turnover volume and value, respectively.

The year-to-date return stood at -0.37 percent.