Market returns -1.66% WtD as investors realign portfolios

Transactions on the floor of the Nigerian Stock Exchange last week closed on a bearish note occasioned by profit taking and portfolio realignment by investors. The All Share Index and Market Capitalisation depreciated by 1.66% to close the week at 41,709.09 and N21.819 trillion respectively.

An aggregate of 2.767 billion units of shares valued N29.685 billion in 31,380 deals were traded last week by investors on the floor of the Exchange, in contrast to a total of 2.570 billion shares valued at N27.884 billion that exchanged hands the week in 31,466 deals.

The Financial Services Industry led the activity chart with 1.924 billion shares valued at N20.344 billion traded in 15,160 deals; thus contributing 69.54% and 68.53% to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 264.795 million shares worth N523.521 million in 1,528 deals. The third place was Consumer Goods Industry, with a turnover of 197.407 million shares worth N3.366 billion in 6,240 deals.

Trading in the top three equities namely Union Bank of Nigeria Plc, First Bank Holding Plc and Transnational Corporation of Nigeria accounted for 859.867 million shares worth N4.250 billion in 2,459 deals, contributing 31.08% and 14.32% to the total equity turnover volume and value respectively.

Similarly, all other indices finished lower with the exception of NSE Growth Index which appreciated by 3.26%, while the NSE ASeM Index closed flat.

Twenty-two (22) equities appreciated in price, lower than Forty-one (41) equities in the previous week. Sixty (60) equities depreciated in price, higher than Thirty-four (34) equities in the previous week, while eighty (80) equities remained unchanged, lower than eighty-six (86) recorded in the previous week.

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