Bearish sentiment returns as NGX dips by 0.44%

Trade on the floor of the Nigerians Exchange Group last week was marked by bearish sentiment, as the All-Share Index dipped by 0.44 per cent. 

Following a 0.70 per cent dip penultimate week, the NGX ASI and market capitalisation depreciated by 0.44 per cent to close the week at 49,475.42 and N26.686tn respectively.

A turnover of 719.398 million shares worth N8.004bn in 17,444 deals was witnessed by investors on the floor of the Exchange, against 949.819 million shares valued at N9.329bn that exchanged hands penultimate week in 18,525 deals.

The financial services industry (measured by volume) led the activity chart with 411.407 million shares valued at N3.943bn in 9,471 deals, contributing 57.19 per cent and 49.26 per cent to the total equity turnover volume and value respectively. The Information and Communication Technology industry followed with 177.815 million shares worth N955.781m in 1,573 deals. The third place was the conglomerates with a turnover of 36.577 million shares worth N2.332bn in 2,425 deals.

Trading in the top three equities namely Courteville Business Solutions, Zenith Bank and Access Holdings (measured by volume) accounted for 278.293 million shares worth N1.984bn in 3,038 deals, contributing 38.68 per cent and 24.78 per cent to the total equity turnover volume and value respectively.

Two thousand, one hundred and seventy-two units valued at N352,773.56 were traded last week in 18 deals against 3,952 units valued at N1.692m transacted penultimate week in 32 deals.

A total of 15,945 units valued at N16.238m was traded in 15 deals against 219,620 units valued at N243.115m transacted in 30 deals penultimate week.

In the same vein, all other indices finished lower, while the NGX ASeM and NGX Growth indices closed flat.

Thirteen equities appreciated in price during the week under review, lower than 22 equities in the previous week. Thirty nine equities depreciated in price against penultimate week’s 36, while 104 equities remained unchanged higher than 98 recorded in the previous week.

Get in Touch


Please enter your comment!
Please enter your name here

Related Articles