Just like last week, the Nigerian bourse recorded two straight bearish sessions this week as investors moved to recoup their investments on Tuesday and Wednesday.
There was a rally on the last two trading days thanks to gains recorded in some blue-chip stocks mostly in the Industrial Goods sector. However, three days of gain had a very modest impact on market performance, causing market capitalisation to rise by N6 billion week on week.
All the key market performance indicators appreciated. A positive market breadth was recorded this week with 32 gainers against 28 losers. The All Share Index (ASI) grew marginally by 0.03% to 29,628.84 basis points. Market Capitalisation similarly grew by the same margin to N15.262 trillion.
Trade Volume of 1.237 billion shares worth N22.762 billion was recorded in 21,156 deals this week compared to the 2.087 billion shares valued at N26.470 billion posted in 24,262 deals last week.
On the Activity Chart, the Financial Services sector dominated trade with 837.345 million shares estimated at N10.511 billion traded in 12,041 transactions. In other words, it contributed 67.69% and 46.17% to the total equity volume and value respectively. The Industrial Goods sector followed, trading 154.540 million shares worth N2.998 billion in 2,862 deals. The ICT sector came third, trading 52.709 million shares priced at N1.262 billion in 709 deals.
As regards Index Movement, all indices depreciated with the exception of NSE Premium, NSE Pension, NSE Insurance, NSE Oil and Gas, NSE Lotus II and NSE Industrial Goods indices, which grew by 0.61%, 0.65%, 3.05%, 2.54%, 0.02%,and 5.10% respectively. The NSE ASem Index closed flat.
Latest posts by Ronald Adamolekun (see all)
- Nigeria will have no foreign reserves in next 4 yrs at current depletion rate –CBN Data - February 24, 2020
- Zenith Bank, United Capital top Ripples Nigeria stock watchlist - February 24, 2020
- Nigerian Economy grew by 2.55% in Q4 2019 –NBS - February 24, 2020