The Nigerian bourse saw limited trading sessions this week as a result of the public holiday observed on Friday in commemoration of the 2020 Democracy Day.
Gains were recorded on Monday and Tuesday but the bear dominated market activities on Wednesday and Thursday as a result of profit-taking efforts by a number of investors. Yet, market was able to advance by N87 billion week on week even as trade volume fell by as much as 24.9%.
All the key market performance indicators closed lower. A negative market breadth was recorded this week as 34 gainers emerged against 31 losers. The All Share Index (ASI) and the Market Capitalisation both appreciated by 0.67%. While the former closed at 25,182.67 basis points, the latter closed at N13.137 trillion.
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Trade Volume of 1.103 billion shares worth N9.876 billion was recorded in 16,616 deals this week compared to the 1.469 billion shares valued at N23.553 billion posted in 22,911 deals last week.
On the Activity Chart, the Financial Services sector dominated trade with 814.292 million shares estimated at N7.186 billion traded in 8,352 deals. Specifically, it contributed 73.82% and 72.76% to the total equity volume and value respectively. The Oil and Gas sector came next, trading 66.78 million shares worth N143.050 million in 1,040 deals. The Consumer Goods Industry followed, trading 57.842 million shares priced at N1.022 billion in 2,559 deals.
As regards Index Movement, all indices appreciated save for NSE MERI Growth, NSE Oil and Gas and NSE Consumer Goods Indices, which fell by 0.07%, 2.62% and 0.20% respectively. NSE AseM closed flat.
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