NGX ASI dips by 0.68%, closes at N23.949tn

The Nigerian Exchange Group All-Share Index and market capitalisation depreciated by 0.68 per cent closing at 43,968.75 and N23.949tn respectively.

This is coming after a bullish move in the first week of November. Analysts had, however, said that subsequent weeks’ trade would determine if the bullish trend had come to stay. 

Meanwhile, all other indices finished lower, with the exception of NGX Banking, NGX-AFR Bank Value, NGX AFR Div. Yield and NGX MERI Value, which appreciated by 0.17 per cent, 0.38 per cent, 1.10 per cent and 0.20 per cent respectively, while the NGX ASeM, NGX Growth and NGX Sovereign Bond indices closed flat. 

Twenty-seven equities appreciated in price against 20 in the penultimate week. Thirty-six equities depreciated in price lower than 43 in the previous week, while 94 remained unchanged, as recorded the previous week.

Investors traded 1.101 billion shares worth N11.714bn in 15,697 deals on the floor of the Exchange, in contrast to 1.41 billion shares valued at N15.510bn that exchanged hands penultimate week in 19,025 deals.

The financial services industry (measured by volume) led the activity chart with 859.019 million shares valued at N6.691bn traded in 8,157 deals; thus contributing 78 per cent and 57.12 per cent to the total equity turnover volume and value respectively. The conglomerates industry followed with 96.989 million shares worth N109.622m in 425 deals. The third place is the oil and gas industry, with a turnover of 40.897 million shares worth N367.117m in 1,065 deals.

Trading in the top three equities namely Access Holdings, Sterling Bank and Transnational Corporation (measured by volume) accounted for 577.512 million shares worth N2.761bn in 1,132 deals, contributing 52.44 per cent and 23.57 per cent to the total equity turnover volume and value respectively.

Four thousand, three hundred and seventy-nine units valued at N622,934.20 were traded in 33 deals compared with 4,577 units valued at N531,565.05 transacted the previous week in 28 deals.

Summarily, 23,819 units valued at N24.622m were traded in 16 deals compared with 121,712 units valued at N119.22m transacted in 16 deals.