It may take a longer time for the market to find resilience if the current momentum of loss increases. The market was nearly absolutely bearish driven essentially by blue-chip losses in equities like Nestle, itself the highest priced stock on the Exchange.
All the key market performance indicators closed lower. A negative market breadth was recorded this week as 28 losers emerged against 24 gainers. The All Share Index (ASI) depleted by 1.32% to 27,388.62 basis points. Equally, Market Capitalisation fell by 1.30% to N14.268 trillion.
Trade Volume of 1.499 billion shares worth N17.907 billion was recorded in 18,515 deals this week compared to the 912.175 million shares valued at N12.126 billion posted in 17,083 deals last week.
On the Activity Chart, the Financial Services sector dominated trade with 1.266 billion shares estimated at N12.974 billion traded in 11,741 deals. Specifically, it contributed 81.79% and 72.45% to the total equity volume and value respectively. The Consumer Goods sector came next, trading 83.882 million shares worth N3.090 billion in 1,937 deals. The Conglomerates industry followed, trading 49.719 million shares priced at N104.199 million in 517 deals.
As regards Index Movement, all indices depreciated with the exception of NSE Industrial Goods index, which grew by 1.02%. The NSE ASeM Index closed flat.