The size of trade during the week, which ended Friday, was worrisomely low, partly occasioned by the necessity to trade away from the Nigerian Stock Exchange (NSE) building in the aftermath of the coronavirus outbreak.
Trade volume crumbled by 44.3%, relative to last week’s figure.
Put differently, the remote trading model deployed by the equity market’s hierarchy has not come to the rescue even though it has helped business in some way.
The market recorded gains at the Monday and Tuesday sessions, losses on Wednesday and Thursday while Friday’s trade closed flat.
All the key market performance indicators closed higher. A positive market breadth was recorded this week as 32 gainers emerged against 28 losers. The All Share Index (ASI) and the Market Capitalisation both depreciated by 0.72% to 23,871.33 basis points and N12.441 trillion respectively.
Trade Volume of 926.418 million shares worth N9.768 billion was recorded in 20,910 deals this week compared to the 1.662 billion shares valued at N18.205 billion posted in 28,791 deals last week.
On the Activity Chart, the Financial Services sector dominated trade with 676.072 million shares estimated at N5.053 billion traded in 10,753 deals. Specifically, it contributed 72.98% and 51.73% to the total equity volume and value respectively. The Conglomerates sector came next, trading 71.117 million shares worth N399.502 million in 445 deals. The Consumer Goods industry followed, trading 48.835 million shares priced at N1.569 billion in 3,497 deals.
As regards Index Movement, all indices depreciated save for NSE Main Board, NSE CG, NSE Pension, NSE ASeM, NSE AFR Bank Value, NSE Meri Growth, NSE Consumer Goods and NSE Oil/Gas which advanced by 1.29%, 1.52%, 0.74%, 0.36%, 1.65%, 4.76%, 2.25% and 1.56% respectively.
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