The Nigerian bourse was largely bearish this week, posting losses Monday through Thursday as there were persistent profit-taking efforts among investors, which increasingly weakened the market capitalisation for days.
But thanks to a major rebound on Friday, the previous days’ losses were reversed, causing the market to record a marginal weekly gain of N1.153 billion.
All the key market performance indicators closed lower. A negative market breadth was recorded this week as 43 losers emerged against 18 gainers. The All Share Index (ASI) and the Market Capitalisation both appreciated by 0.01%. While the former closed at 24,829.02 basis points, the latter closed at N12.952 trillion.
Trade Volume of 739.735 million shares worth N8.563 billion was recorded in 17,248 deals this week compared to the 1.050 billion shares valued at N10.125 billion posted in 19,576 deals last week.
On the Activity Chart, the Financial Services sector dominated trade with 475.851 million shares estimated at N3.773 billion traded in 8,062 deals. Specifically, it contributed 61.92% and 44.066% to the total equity volume and value respectively. The Consumer Goods sector came next, trading 66.668 million shares worth N2.015 billion in 3,486 deals. The Oil and Gas Industry followed, trading 63.255 million shares priced at N380.146 million in 963 deals.
As regards Index Movement, all indices depreciated save for NSE Main Board, NSE MERI Value and NSE Lotus II, which appreciated by 0.63%, 0.41% and 0.26% respectively. NSE AseM and NSE Consumer Goods closed flat.
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