Business
NSE ROUNDUP: Negative sentiment causes investors to lose N464bn
The Nigerian Stock Exchange (NSE) this week reported a N463.732 billion loss in market capitalisation as there was a week-long scramble to sell off shares in huge quantities. Trade sessions were bearish Monday through Friday as no gain was recorded.
All the key market performance indicators advanced. A negative market breadth was recorded, with 46 losers emerging against 13 gainers. The All-Share Index and market capitalisation both declined by 2.53%. While the former closed at 34,250.74 index points, the latter closed at N17.902 trillion.
Read also: NSE ROUNDUP: Investors’ confidence lifts year-to-date return to 30%
Trade volume of 2.265 billion shares worth N20.990 billion was recorded on the NSE in 23,722 deals relative to the 1.675 billion shares valued at N25.425 billion posted in 23,650 deals last week.
On the NSE activity chart, the Financial Services sector dominated trade with 1.884 billion shares estimated at N14.933 billion traded in 13,602 deals. Specifically, it added 83.15% and 71.14% to the total equity volume and value respectively. The Consumer Goods industry came next, trading 116.400 million shares worth N2.817 billion in 3,474 deals. The Conglomerates sector was third, trading 107.803 million shares priced at N231.323 million in 897 deals.
As regards index movement, all indices on the NSE fell save for NSE ASeM, which closed flat.
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