The Nigerian Stock Market slipped back last week from previous week’s gain with a drop of 1.99 percent or 658.31 points in the All Share Index that closed at 32,459.17, dragging year to date gains to 20.78 percent. Likewise, Market Capitalisation dipped by 2.31 percent or N265 billion to close at N11.187 trillion.
Performance across sectors was also broadly bearish as most Indices finished lower during the week with the exception of the NSE Insurance and the NSE Industrial Goods Indices that appreciated by 1.10 percent and 0.22 percent while the NSE ASeM index closed flat
Market breadth turned negative with 16 gainers against 51 losers. This is compared to 40 gainers last week against 28 losers. Meanwhile, while 105 equities remained unchanged same as 105 recorded previous week.
The Financial Services Industry led the activity chart by volume with 802.195 million shares valued at N7.331 billion traded in 11,334 deals; thus contributing 75.62 percent and 59.63 percent to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 109.378 million shares worth N174.604 million in 1,024 deals.
The third place was occupied by Consumer Goods Industry with a turnover of 62.992 million shares worth N2.405 billion in 3,021deals.
Top Three traded Equities by volume were Zenith International Bank Plc, Transnational Corporation of Nigeria Plc and FBN Holdings Plc. They accounted for 317.099 million shares worth N3.223 billion in 3,823 deals, contributing 29.89 percent and 26.21 percent to the total equity turnover volume and value respectively.
The total volume traded declined marginally to 1.061 billion from 1.17 billion shares exchanged previously, the value of shares traded in 18,847 deals were higher at N12.295 billion compared to N11.485billion traded in 13,763 deals last week.
