Equities Market Sustained Bearish Run Last Week

Nigerian equities market sustained a bearish run last week as investors continue to sell their holdings.

Investors traded 1.541 billion shares worth N18.235 billion in 22,752 deals during the week, against a total of 2.683 billion shares valued at N23.662 billion that exchanged hands in the previous week in 27,844 deals.

In terms of volume traded, the financial services industry led with 1.099 billion shares valued at N11.110 billion traded in 12,544 deals. Therefore, contributing 71.35 percent and 60.92 percent to the total equity turnover volume and value, respectively.

This was followed by Consumer Goods Industry with 133.156 million shares worth N2.327 billion in 3,941 deals.

In third place was Conglomerates Industry with a turnover of 121.143 million shares worth N263.219 million in 839 deals.

First Bank Holding Plc, Guaranty Trust Bank Plc and Zenith Bank Plc were the three most traded equities in terms of volume, accounting for a combined 553.512 million shares worth N8.931 billion traded in 5,132 deals, contributing 35.92 percent and 48.98 percent to the total equity turnover volume and value, respectively.

The NSE-Share Index depreciated by 0.63 percent to settle at 40,186.70 index points, while the market capitalisation of listed equities declined by 0.61 percent to close at N21.026 trillion.

Monthly returns stood at -5.25 percent and yearly returns stood at -0.21.