STOCK MARKET HALTS FOUR WEEKS DOWNTREND

 In Investor News

Transactions on the floor of the Nigerian Stock Exchange closed last week on the positive with the equity market recording first weekly gain in four weeks. The NSE All-Share Index and market capitalisation both appreciated by 1.37 per cent to close the week at 21,384.03 and N11.144tn respectively.  All other indices finished higher with the exception of NSE oil/gas, NSE Lotus II and NSE industrial goods which depreciated by 4.76 per cent, 2.65 per cent and 6.59 per cent while NSE ASeM Index closed flat.

The market opened for four trading days this week as the Federal Government declared Friday 10th April 2020 (Good Friday) and Monday 13th April 2019 (Easter Monday) public holidays to mark the end of the Lenten season and Easter celebrations.  A total turnover of 2.440 billion shares worth N19.932bn in 18,918 deals were traded last week by investors on the floor of the exchange, in contrast to a total of 1.534 billion shares valued at N11.267bn that exchanged hands the previous week in 18,928 deals.

The Financial Services industry (measured by volume) led the activity chart with 2.182 billion shares valued at N11.107bn traded in 11,322 deals; thus contributing 89.42 per cent and 55.72 per cent to the total equity turnover volume and value respectively. The industrial goods followed with 102.769 million shares worth N3.633bn in 2,483 deals. The third place was the consumer goods industry, with a turnover of 51.075 million shares worth N3.578bn in 1,924 deals.

Trading in the top three equities namely, Omoluabi Mortgage Bank Plc, Guaranty Trust Bank Plc and FBN Holdings Plc (measured by volume) accounted for 1.702 billion shares worth N8.033bn in 4,443 deals, contributing 69.76 per cent and 40.30 per cent to the total equity turnover volume and value respectively. Thirty five equities appreciated in price during the week, higher than 15 equities in the previous week. 18 equities depreciated in price, lower than 36 equities in the previous week, while 110 equities remained unchanged, lower than 112 equities recorded in the preceding week. A total of 3.027 million units valued at N13.034m were traded this week in 23 deals, compared with a total of 6,759 units valued at N61,035.98m transacted last week in 19 deals.

https://punchng.com/stock-market-halts-four-weeks-downtrend/

 

 

 

 

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