Stock market indices dip as investors stake N23.7b in one week
Also, a turnover of 1.457 billion shares worth N23.666 billion was recorded in 19,674 deals by investors on the floor of the Exchange lower than a total of 1.586 billion units valued at N25.992 billion that changed hands in 21,115 deals.
Analysts at Codros Capital said: “Despite continued selloffs in the equities market, still-strengthening macroeconomic fundamentals remain suggestive of gains on the exchange.”
Vetiva capital management Limited said: “With sentiments still largely bearish at week close, we expect the market to open the week on a negative note.”
Specifically, at the closed of transactions yesterday, the financial services industry (measured by volume) led the activity chart with 1.223 billion shares valued at N16.825 billion traded in 11,092 deals; thus contributing 83.98 per cent and 71.093 per cent to the total equity turnover volume and value respectively.
The consumer goods industry followed with 76.430 million shares worth N5.188 billion in 3,425 deals.
The oil and gas industry ranked third with a turnover of 57.193 million shares worth N527.880 million in 2,237 deals.
Trading in the top three equities namely –Zenith Bank International Plc, Guaranty Trust Bank Plc and United Bank for Africa Plc (measured by volume) accounted for 491.649 million shares worth N14.159 billion in 3,265 deals, contributing 33.75 per cent and 59.83 per cent to the total equity turnover volume and value respectively.
Also traded during the week were a total of 153,246 units of Exchange Traded Products (ETPs) valued at N4.009 million executed in 22 deals, compared with a total of 444,190 units valued at N2.514 million that was transacted last week in 11 deals.
Similarly, all other indices finished lower with the exception of the NSE Consumer Goods Index, which appreciated by 0.03per cent, while the NSE ASeM Index closed flat.
20 equities appreciated in price during the week, higher than 35 in the previous week. 54 equities depreciated in price, higher than 49 equities of the previous week, while 95 equities remained unchanged higher than 85 equities recorded in the preceding week.
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