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NSE ROUNDUP: Market sheds N118bn on strong negative sentiments

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

The market was largely bearish this week as several investors were intent on cashing out their investments, consequently putting up large volumes of stocks for sale.

A depreciation of well over N154 billion was posted on Friday alone and the loss for the week would have been heftier if not for the gains recorded in the first few days that helped temper the loss.

All the key market performance indicators closed lower. A negative market breadth was recorded this week as 39 losers emerged against 26 gainers. The All Share Index (ASI) and the Market Capitalisation fell by 1% and 0.90% respectively. While the former closed at 25,016.30 basis points, the latter closed at N13.050 trillion.

Read also: NSE ROUNDUP: Limited trading days weaken gains by 95%

Trade Volume of 1.469 billion shares worth N23.553 billion was recorded in 22,911 deals this week compared to the 1.255 billion shares valued at N13.501 billion posted in 20,554 deals last week.

On the Activity Chartthe Financial Services sector dominated trade with 861.775 million shares estimated at N8.545 billion traded in 11,647 deals. Specifically, it contributed 58.66% and 36.28% to the total equity volume and value respectively. The Consumer Goods sector came next, trading 184.644 million shares worth N5.880 billion in 3,953 deals. The Services Industry followed, trading 119.238 million shares priced at N270.084 million in 1.043 deals.

As regards Index Movement, all indices fell save for NSE AFR Div Yield and NSE Consumer Goods Indices, which grew by 1.20% and 0.26% respectively. NSE AseM remained unchanged.

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