The Nigerian Stock Exchange (NSE) market gave up more ground to fixed income securities this week as better return on investment from treasury bills and bonds loaded pressure on the equity market’s capital.
Sell pressure on big and medium-cap equities weighed most on the generally gloomy market that saw a plunge of ₦246.006 billion, raising doubts about the possibility of it making a bounceback in the days ahead after a prolonged period in the red.
ASI, Market cap
All the key market performance indicators declined. The All-Share Index (ASI) and market capitalisation dropped concurrently by 1.18 per cent. The former closed at 39,331.61 points and the latter at ₦20.578 trillion.
Trade volume
The trade volume of 2.092 billion shares estimated at ₦29.744 billion was recorded in 24,238 deals relative to the 1.930 billion shares valued at ₦20.656 billion posted in 24,687 deals last week.
Financial services sector
The financial services sector led the activity chart, with 1.633 billion shares worth ₦10.727 billion traded in 13,269 deals. It added 78.06 per cent and 36.06 per cent to the total equity volume and value respectively.
Consumer goods industry
The consumer goods industry followed, trading 92.009 million shares worth ₦4.521 billion in 4,168 deals. The oil and gas sector was third, trading 91.340 million shares priced at ₦10.527 billion in 1,471 deals.
As regards index movement, all indices edged lower except the NSE Sovereign Bond and NSE Industrial Indices, which climbed up by 0.07 per cent and 1.39 per cent, 0.66 per cent in that order. The NSE ASeM did not change.
 market gave up more ground to fixed income securities this week as better return on investment from treasury bills and bonds loaded pressure on the equity market’s capital.){kind=link}