Market activities this week were sorely affected by inevitability by investors and traders to conduct business away from the Nigerian Stock Exchange (NSE) building as the capital market’s own bit in the war against coronavirus.
Resorting to online platforms, which a number of investors are not familiar with, came with its own hitches as the week witnessed a substantial contraction in trade volume, the second lowest recorded in seven weeks.
All the key market performance indicators closed lower this week. A negative market breadth was recorded as 34 losers emerged against 15 gainers. The All Share Index (ASI) and the Market Capitalisation both diminished by 3.51% with the former dipping to 21,094.62 basis points and the latter to N10.994 trillion.
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Trade Volume of 1.534 billion shares estimated at N11.267 billion was recorded in 18,928 deals this week compared to the 1.452 billion shares worth N14.918 billion posted in 21,828 deals last week.
On the Activity Chart, the Financial Services sector dominated trade with 1.105 billion shares estimated at N7.100 billion traded in 12,225 deals. Specifically, it contributed 71.99% and 63.02% to the total equity volume and value respectively. The Industrial Goods sector came next, trading 218.471 million shares worth N1.236 billion in 1.610 deals. The Consumer Goods followed, trading 134.499 million shares priced at N1.855 billion in 2,332 deals.
As regards Index Movement, all indices depreciated save for the NSE Oil and Gas, which expanded by 3.51%. The NSE ASeM Index did not change.