NGX ASI, Market Cap depreciates by 3.10%

The Nigerian Exchange Group  All-Share Index and market capitalisation depreciated by 3.10 per cent to close last week’s trade at 50,370.25 and N27.263tn respectively. 

The bearish trend followed the previous week’s trade at 0.54 per cent and that of penultimate week at 0.53 per cent. However, for the month of July, ASIs increased twice; the first on July 4 at 0.24 per cent, and the other on July 18 at 1.27 per cent. 

Analysts had attributed the previous week’s performance to the announcement by the Monetary Policy Committee to increase the Monetary Policy Rate to 100 per cent. Albeit, a bullish return is expected this August for investors in the market. 

Last week, 1.546 billion shares worth N16.289bn in 23,873 deals were traded by investors on the floor of NGX, against the 917.190 million shares valued at N14.803bn that exchanged hands penultimate week in 19,513 deals.

The financial services industry, when measured by volume, led the activity chart with 1.192 billion shares valued at N5.978bn in 11,996 deals; thus contributing 77.11 per cent and 36.70 per cent to the total equity turnover volume and value respectively. 

The conglomerates industry followed with 102.969 million shares worth N236.618m in 858 deals. 

In the third place was the consumer goods industry, with a turnover of 102.937m shares worth N2.616bn in 3,167 deals.

Trading in the top three equities – International Energy Insurance, Transcorp Hotels and Zenith Bank, when measured by volume – accounted for 798.9 million shares worth N2.602bn in 3,110 deals, contributing 51.69 per cent and 15.98 per cent to the total equity turnover volume and value respectively.

All other indices finished lower, with the exception of The NGX Sovereign Bond Index, which appreciated by 0.08 per cent, while The NGX ASeM and NGX Growth indices closed flat.

Eleven equities appreciated in price during the week under review, lower than 19 in the previous week. Fifty-three equities depreciated in price higher than 36 in the previous week, while 92 remained unchanged lower than one the 101 recorded in the previous week.