Business Latest

NSE ROUND UP: Stocks crumble by N257bn amidst worsening negative sentiments

NSE delists Alumaco, Vono, 7Up, 19 others for non-compliance

Higher sell pressure was evident in market activities this week with investors taking several profit-making moves that weighed on the value of stocks.

The bourse recorded downtrend on Tuesday, Thursday and Friday with a consolidated loss of N257.129 billion, wiping out marginal gains witnessed in the rest of the week.

All the key market performance indicators closed lower.

A negative market breadth was recorded this week as 3 losers emerged against 59 gainers. The All Share Index (ASI) and the Market Capitalisation both increased by 1.99% to 24,336.12 basis points and N12.695 trillion respectively.

Read also: NSE ROUND UP: Market gains N534 billion as trade volume improves

Trade Volume of 961.833 shares worth N9.181 billion was recorded in 20,058 deals this week compared to the 739.375 billion shares valued at N8.563 billion posted in 17,248 deals last week.

On the Activity Chartthe Financial Services sector dominated trade with 618.714 million shares estimated at N4.338 billion traded in 9,669 deals. Specifically, it contributed 64.33% and 47.25% to the total equity volume and value respectively. The Consumer Goods sector came next, trading 91.119 million shares worth N2.227 billion in 3,703 deals. The Conglomerates industry followed, trading 60.640 million shares priced at N62.779 million in 556 deals.

As regards Index Movement, all indices depreciated.

 

Join the conversation

Opinions

About the author

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

Do NOT follow this link or you will be banned from the site!