NSE ROUNDUP: Three-day straight gains suggest market could be regaining confidence

The likelihood is huge that market confidence is gradually increasing with three consecutive days of gain experienced Tuesday through Thursday.

There were no activities on Friday being a public holiday marking good Friday.

All the key market performance indicators closed lower. A positive market breadth was recorded this week as 35 gainers emerged against 18 losers. The All Share Index (ASI) and the Market Capitalisation both increased by 1.37% to 21,384.03 basis points and N11.144 trillion respectively.

Trade Volume of 2.440 billion shares worth N19.932 billion was recorded in 18,918 deals this week compared to the 1.534 billion shares valued at N11.267 billion posted in 18,928 deals last week.

Read also: Banks’ profits to drop further in 2020 due to COVID-19 – Agusto

On the Activity Chart, the Financial Services sector dominated trade with 2.182 billion shares estimated at N11.107 billion traded in 11,322 deals. Specifically, it contributed 80.42% and 55.72% to the total equity volume and value respectively. The Industrial Goods sector came next, trading 102.769 million shares worth N3.633 billion in 2,483 deals. The Consumer  Goods industry followed, trading 51.075 million shares priced at N3.578 billion in 1,924 deals.

As regards Index Movement, all indices appreciated with the exception of NSE Oil/Gas, NSE Lotus II and NSE Industrial Goods which fell by 4.76%, 2.65% and 6.59% respectively . The NSE ASeM Index closed flat.

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