Trade volume was 7.8% weaker on the Nigerian Stock Exchange (NSE) this week even though the rate of decline was lower than that of the week before, when liquidity fell by 84%. The bulls had the market in their grip, with the NSE returning N130.985 billion on investment as sentiment remained dominantly positive among investors.
All the key market performance indicators advanced. A negative market breadth was recorded, with 45 losers emerging against 22 gainers. The All-Share Index and market capitalisation respectively grew by 0.72% and 0.75%. While the former closed at 35,137.99 basis points, the latter closed at N18.365 trillion.
Trade volume of 1.675 billion shares worth N25.425 billion was recorded in 23,650 deals relative to the 1.816 billion shares valued at N25.791 billion posted in 31,665 deals last week.
On the activity chart, the Financial Services sector dominated trade with 1.206 billion shares estimated at N12.064 billion traded in 13,534 deals. Specifically, it added 72% and 47.45% to the total equity volume and value respectively. The Consumer Goods industry came next, trading 102.368 million shares worth N3.616 billion in 3,511 deals. The Natural Resources sector was third, trading 86.626 million shares priced at N17.492 million in 28 deals.
As regards index movement, all indices fell save for the NSE Main Board, NSE Insurance, NSE ASeM and NSE Oil and Gas, which appreciated by 2.61%, 1.56%, 0.19% and 1.71% in that order.
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