NSE Extends Losses this Week, Depreciated by 1.30%

Nigerian stock market
  • NSE Extends Losses this Week, Depreciated by 1.30%

The nation stock exchange extended its bearish run this week as sentiment remains weak for most of the trading days of the week.

The bourse closed in the read for five consecutive days before recording a slight gain of N12 billion on Thursday.

The market capitalisation of listed equities depreciated by 1.30 percent to close at N14.26 trillion, down from N14.45 trillion recorded in the previous week. While NSE All-Share Index dipped by 1.32 percent from 27,755.87 last week to 27,388.62.

A total turnover of 1.499 billion shares worth N17.907 billion in 18,515 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 912.175 million shares valued at N12.126 billion that exchanged hands last week in 17,083 deals.

The Financial Services industry (measured by volume) led the activity chart with 1.226 billion shares valued at N12.974 billion traded in 11,741 deals; thus contributing 81.79 percent and 72.45 percent to the total equity turnover volume and value respectively.

The Consumer Goods followed with 83.882 million shares worth N3.090 billion in 1,937 deals. The third place was Conglomerates industry, with a turnover of 49.719 million shares worth N104.199 million in 517 deals.

Trading in the Top Three Equities namely, Zenith Bank Plc, Sovereign Trust Insurance Plc, and Guaranty Trust Bank Plc. (measured by volume) accounted for 636.624 million shares worth N10.123 billion in 4,539 deals, contributing 42.47 percent and 56.53 percent to the total equity turnover volume and value respectively.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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