NSE ROUNDUP: Index and Market Capitalisation close lower as profit-taking dominates trade

The Nigerian bourse posted negative performances across its key market indicators this week as profit-taking efforts on the part of investors intensified.

The bear maintained a strong hold on the market for the greater part of the week even though bullish performances were recorded on Monday and Wednesday.

The All Share Index (ASI) slumped by 0.04% to 26,526.35 basis points from the 26,536.21 recorded last week. Market Capitalisation dipped by 0.03% from the N12.808 trillion posted last week to close at N12.804 trillion. Interestingly, the market recorded a positive market breadth with 33 stocks appreciating as against 25 losers. It is worthy of note that this development does not suggest that the market is improving. Rather, the impact of the 25 depreciating stocks far outweighed that of the 33 gainers on the bourse as a whole.

Trade Volume of 1.381 billion shares worth N15.504 billion was recorded in 14,528 deals this week compared to the 1.044 billion shares valued at N14.628 billion posted in 14,974 deals last week.

Read also: NSE: Market capitalisation sheds N38 billion in bearish day

On the Activity Chart, the Financial Services sector dominated trade with 1.019 billion shares estimated at N11.814 billion traded in 8,275 transactions. In other words, it contributed 73.82% and 76.20% to the total equity turnover volume and value respectively. Coming next was the Healthcare sector, which traded 170.905 million shares worth N49.097 million in 281 deals. The Conglomerates sector came third, trading 83.560 million shares priced at N205.786 million in 736 deals.

As regards Index Movement, all indices appreciated save for the NSE Premium, NSE-AFR Div Yield, NSE Lotus II, NSE Oil and Gas, and NSE Industrial Goods Indices. They depreciated by 0.86%, 3.14%, 0.06%, 0.68% and 0.49% respectively.

MAJOR DEVELOPMENT

Stanbic IBTC Holdings Plc listed additional 31,515,400 ordinary shares of 50 kobo each on the Daily List of the Exchange on Thursday 19^th December 2019.

The additional shares emerged from the scrip dividend or bonus issue offered to eligible shareholders of the company who chose to receive ordinary shares instead of cash dividends with respect to the N1 final dividend declared for the half year ended 30 June 2019.

The total issued and fully paid up shares of Stanbic has now increased from 10,473,451,958 to 10,504,967,358 ordinary shares by reason of the listing.

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