Bearish sentiment returns as index NGX dips by 0.13%

Bearish sentiment has resumed at the Nigerian Exchange Limited, as All-Share Index dipped, last week, by 0.13 per cent. 

This came after weeks of bullish run of 2.18 per cent on the floor of the NGX. 

The NGX ASI and market capitalisation depreciated by 0.13 per cent and 0.12 per cent to close the week at 47,149.48 and N25.406tn respectively. 

Price of 43 equities appreciated during the week under review, lower than 48 equities in the previous week. Also, 38 equities depreciated in price, against 31 equities in the previous week, while 75 equities remained unchanged against 81 equities recorded in the previous week. 

A total of 40,892 units valued at N44.706m were traded in 22 deals compared with 79,150 units valued at N83.791m transacted last week in 25 deals. 

The Financial Services Industry, measured by volume, led the activity chart with 1.064 billion shares valued at N12. 201bn in 11,708 deals, thus contributing 62.14 per cent and 39.66 per cent to the total equity turnover volume and value respectively. The Consumer Goods followed with 156.077 million shares worth N5.004bn in 4,877 deals. 

Trading in the top three were Access Bank, Guaranty Trust Holding Company and Fidelity Bank, accounting for 500.778 million shares worth N7.455bn in 3,603 deals, contributing 29.23 per cent, 24.25 per cent and 24.23 per cent to the total equity turnover volume and value respectively. 

The top gainers for the week were RT Briscoe, Learn Africa, SCOA Nigeria, NCR, NEM Insurance, Northern Nigeria Flour Mills, Guinness Nigeria and Royal Exchange. 

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