Business Latest

NSE ROUNDUP: Market closes upbeat, but trade volume remains weak

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

The Nigerian bourse closed the week with bigger gain, with the equity section racking up N13.609 billion even though the size of trade was lower week on week and taking into view pre-pandemic levels also.

It recorded appreciation on Monday, which was followed by three days of losses but market fortune was significantly redeemed by a major rebound at the end of Friday’s trade that set the market on course for a 0.10% gain.

Yet, year-on-year yield was as still as high as 4.73%, meaning a pretty dramatic rally is needed to make 2020’s performance better last year’s.

All the key market performance indicators closed higher. A slightly positive market breadth was recorded this week as 32 gainers emerged against 31 losers. The All Share Index (ASI) rose by 0.08% and market capitalisation by 0.10%. While the former closed at 25,572.57 basis points, the latter closed at N13.365 trillion.

Read also: NSE ROUNDUP: Market capitalisation improves marginally amidst worsening liquidity

Trade Volume of 1.139 billion shares worth N12.692 billion was recorded in 17,109 deals this week compared to the 1.226 billion shares valued at N10.842 billion posted in 19,529 deals last week.

On the Activity Chart, the Financial Services sector dominated trade with 870.300 million shares estimated at N7.863 billion traded in 9,427 deals. Specifically, it added 76.43% and 61.95% to the total equity volume and value respectively. The Industrial Goods sector came next, trading 62.689 million shares worth N1.162 billion in 1,557 deals. The ICT Industry was third, trading 50.859 million shares priced at N2.552 billion in 619 deals.

As regards Index Movement, all indices depreciated save for NSE Main Board, NSE Pension, NSE Insurance, NSE Meri Growth, NSE Consumer Goods, NSE Lotus II and NSE Industrial Goods, which grew by 0.13%, 0.06%, 0.01%, 0.17%, 0.13%, 0.19% and 0.50% respectively.

The NSE AseM Index did not change.

Ronald Adamolekun

Join the conversation

Opinions

About the author

Ronald Adamolekun

Ronald Adamolekun is a creative writer with a mixed bag of experience in fields as diverse as data journalism, financial reporting and editing.

/* ]]> */