Home Business Markets Bargain Hunting, Bearish Sentiments Down Equities Market By N124.9bn W-o-W

Bargain Hunting, Bearish Sentiments Down Equities Market By N124.9bn W-o-W

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The equities market of the Nigeria Exchange Limited (NGX) closed last week’s trading sessions in the red, as market capitalisation dropped by N124.94 billion to close at N26.53trillion.

 

The NGX All-Share Index and Market Capitalization depreciated by 0.91 per cent to close the week at 49,026.62 and N26.445 trillion respectively.

Similarly, all other indices finished lower with the exception of NGX Premium, NGX Banking, NGX Pension, NGX AFR Bank Value and NGX MERI Value which appreciated by 0.13 per cent,2.27 per cent, 0.05 per cent, 0.08 per cent and 1.84 per cent while The NGX ASeM, NGX Growth and NGX SOVBND indices closed flat.

A total turnover of 562.856 million shares worth N9.438 billion in 16,013 deals was traded in the week by investors on the floor of the Exchange, in contrast to a total of 719.398 million shares valued at N8.004 billion that exchanged hands last week in 17,444 deals.

The Financial Services Industry (measured by volume) led the activity chart with 381.958 million shares valued at N4.551 billion traded in 8,627 deals; thus contributing 67.86 per cent and 48.21 per cent to the total equity turnover volume and value respectively.

The ICT Industry followed with 59.345 million shares worth N2.480 billion in 1,272 deals. The third place was the Services Industry, with a turnover of 32.212 million shares worth N95.807 million in 607 deals.

Trading in the top three equities namely Zenith Bank Plc, NGX Group Plc and Guaranty Trust Holding Company Plc. (measured by volume) accounted for 183.929 million shares worth N3.499 billion in 3,628 deals, contributing 32.68 per cent and 37.07 per cent to the total equity turnover volume and value respectively.

A total of 17 equities appreciated in price during the week, higher than 13equities in the previous week, even as 42 equities depreciated in a price higher than 39 in the previous week, while 97 equities remained unchanged lower than 104 recorded in the previous week.

ETP sector recorded a total of 4,938 units valued at N2.135 million were traded this week in 18 deals compared with a total of 2,172 units valued at N352,773.56 transacted last week in 18 deals.

Also, a total of 2,961 units of Bonds valued at N2.994 million were traded in the week in 8 deals compared with a total of 15,945 units valued at N16.238 million transacted last week in 15 deals.

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