Home / ASSETS & FINANCIALS / Equity market closes week negative on profit taking

Equity market closes week negative on profit taking

Equity market closes week negative on profit taking

Trading Floor of NSE

Transactions on the equity market closed last week on the negative note following continuous profit takings by investors leveraging previous weeks’ bullish trends.

The NSE All-Share Index and market capitalisation depreciated by 2.53 per cent to close the week at 34,250.74 and N17.90tn, respectively.

Similarly, all other indices finished lower while the NSE ASeM Index closed flat.

A total turnover of 2.27billion shares worth N20.99bn in 23,722 deals were traded last week by investors on the floor of the exchange, in contrast to a total of 1.68bn shares valued at N25.43bn that exchanged hands the previous week in 23,650 deals.

The financial services industry (measured by volume) led the activity chart with 1.88 billion shares valued at N14.93bn traded in 13,602 deals; thus contributing 83.15 per cent and 71.14 per cent to the total equity turnover volume and value, respectively.

The consumer goods industry followed with 116.40 million shares worth N2.82bn in 3,474 deals. The third place was conglomerates industry, with a turnover of 107.80 million shares worth N231.32m in 897 deals.

Trading in the top three equities namely Jaiz Bank Plc, United Bank for Africa Plc and Zenith Bank Plc (measured by volume) accounted for 894 million shares worth N7.08bn in 4,045 deals, contributing 39.47 per cent and 33.72 per cent to the total equity turnover volume and value, respectively.

On the bourse, 13 equities appreciated in price during the week, lower than 22 equities in the previous week.

Also, 46 equities depreciated in price, higher than 45 equities in the previous week, while 102 equities remained unchanged, higher than 94 recorded in the previous week.

A total of 292,510 units of ETPs valued at N2.27bn were traded last week in 45 deals compared with a total of 543,655 units valued at N4.69bn transacted the previous week in 36 deals.

A total of 13,555 units of bonds valued at N17.37m were traded last week in eight deals compared with a total of 3,198 units valued at N3.89m transacted the previous week in 10 deals.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

× Get News Alert