ASI closes in red again, dips by 0.59%

The Nigerian Exchange Group Limited All Share Index closed in the red zone last week with 0.59 per cent depreciation, ending the week’s trade at 49,370.62 and N26.629tn.

The market performance for the third week in August indicates that a bearish trend is set loose following a 2.09 per cent depreciation penultimate week.

Investors traded 823.005 million shares worth N12.228bn in 17,482 deals on the floor of the Exchange, aganst the previous week’s 1.511 billion shares valued at N13.547bn in 20,074 deals.

The financial services industry, measured by volume, led the activity chart with 561.683 million shares valued at N5.576bn in 8,388 deals, which led to 68.25 per cent and 45.60 per cent to the total equity turnover volume and value respectively. The ICT industry followed with 91.819 million shares worth N1.478bn in 1,532 deals. The third place was the consumer goods industry 42.546 million shares worth N3.396bn in 2,639 deals.

Trading in the top three equities include FBN Holdings, E-Tranzact International and United Bank for Africa (measured by volume) accounting for 323.474 million shares worth N2.520bn in 1,457 deals, contributing 39.30 per cent and 20.61 per cent to the equity turnover volume and value respectively.

A total of 2,378 units valued at N1.531m were traded in 22 deals compared with the previous week’s 3,091 units valued at N13.063m in 41 deals.

Seventy-eight thousand, eight hundred and twenty-one units valued at N82.638m were traded last week in 19 deals against 80,732 units valued at N86.217m transacted penultimate week in 38 deals. All other indices finished lower with the exception of The NGX Premium, NGX Banking, NGX-AFR Bank Value and NGX Industrial Goods Indices, which appreciated by 0.12 per cent, 0.65 per cent, 0.07 per cent and 0.28 per cent, while The NGX ASeM and Growth indices closed flat.

Twenty-one equities appreciated in price during the week, lower than the previous week’s 33.

But 41 equities depreciated in price higher than 26 of the previous week, while 94 remained unchanged against the 97 recorded in the previous week.

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