NSE ROUNDUP: Sell pressure costs investors N239bn

The Nigerian Stock Exchange (NSE) recorded four bearish sessions this week as profit-taking cost the market a staggering N239 billion.

The bullish performance posted by the bourse on Thursday was no succour at all as it was grossly inadequate to overturn the cumulative losses that were recorded in the rest of the week.

All the key market performance indicators closed lower. A negative market breadth was recorded this week as 15 gainers emerged against 49 losers. The All Share Index (ASI) shrank by 2.69% to 28,067.09 basis points. Market Capitalisation similarly grew by the same margin to N14.618 trillion.

Trade Volume of 1.478 billion shares worth N20.295 billion was recorded in 23,263 deals this week compared to the 1.561 billion shares valued at N26.073 billion posted in 21,444 deals last week.

On the Activity Chart, the Financial Services sector dominated trade with 1.199 billion shares estimated at N13.728 billion traded in 15,183 transactions. In other words, it contributed 81.14% and 67.64% to the total equity volume and value respectively. The Consumer Goods sector followed, trading 68.225 million shares worth N2.444 billion in 2,312 deals. The Conglomerates sector came third, trading 60.095 million shares priced at N242.213 million in 922 deals.

Read also: NSE: Market rallies with N26 billion gain as bank stocks lead gainers

As regards Index Movement, all indices depreciated with the exception of NSE Insurance, which grew by 0.23%. The NSE ASeM Index closed flat.

 COMPANY NEWS

Consolidated Hallmark Insurance Plc submitted an application to The Exchange for the approval and listing of a rights issue of 2,032,500,000 ordinary shares of 50 kobo each at N0.52 per share on the basis of 1 new share for every 4 ordinary shares.

Abbey Mortgage Bank Plc on Thursday 6^th February 2020 listed 2,261,538,462 ordinary shares of 50k each at N1.05 per share on the Daily Official Listing of the NSE. The feat brought the total issued and fully paid-up shares of Abbey Mortgage Bank Plc from 4.2 billion to 6,461,538,462 ordinary shares of 50 kobo each.

Skye Shelter Fund had its name changed to SFS Real Estate Investment Fund by the NSE and the Central Securities and Clearing System on Friday 31 January 2020.

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