Bearish sentiment continues as NGX ASI depreciates by 0.14%

The bearish sentiment, which began penultimate week, continued last week on the floor of the Nigerian Exchange Group Limited. 

The NGX All-Share Index slightly increased by 0.01 per cent against last week’s 0.13 per cent dip. 

Following weeks of a bullish return of 2.18 per cent last seen on June 11, the NGX ASI, for two weeks, dipped by 0.13 per cent and 0.14 per cent. 

“The NGX ASI and Market Capitalisation depreciated by 0.14 per cent to close the week at 51,705.61 and N27.875tn respectively. Similarly, all other indices finished lower with the exception of NGX Conglomerates Group, NGX Premium, NGX Bank, NGX Pension, NGX Afr Bank value, NGX Oil/Gas and NGX Lotus indices, which appreciated at 0.86 per cent, 1.50 per cent, 0.33 per cent, 0.40 per cent, 0.16 per cent, 0.32 per cent and 0.55 per cent,” states the NGX report. 

The Financial Services Industry, measured by volume, led the industry chart with 806.824 million shares valued at N6.075bn in 11,071 deals, thus contributing 71.99 per cent and 44.33 per cent to the total equity turnover in volume and value respectively. 

The Oil and Gas Industry followed with 95.031 million shares worth N1.449bn in 1,849 deals. The third place was The Conglomerates Goods Industry with a turnover of 66.716 million shares worth N169.517m in 733 deals. 

The week’s top traders in equities were FCMB Group, United Bank for Africa and Oando. Measured by volume, they accounted for 407,770 million shares worth N2.009bn in 2,181 deals, contributing 36.39 per cent and 14.66 per cent to the total equity turnover volume and value respectively. 

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