Business
Nigerian equity market dips 0.12% this week
Sell pressure caused the Nigerian equity declined 0.12 per cent this week as the Friday gain was not strong enough to buoy it.
The NSE All-Share Index appreciated by 0.12 per cent, driven by gains by bellwether stock as it also dropped by the same margin to close the week at 24,306.36 and the Market Capitalization berthed at N12.680 trillion.
There were 25 gainers this week instead of 13 last week, while 33 equities lost lower than 59 recorded last week and 105 equities remained unchanged.
Gains by the Banking, Pension, AFR Div Yield, etc, could not the market from ending the week in the red.
Meanwhile, investors exchanged a total of 901.542 million shares worth N13.453 billion in 18,676 deals were traded this week, compared to a total of 961.833 million shares valued at N9.181 billion in 20,058 deals that traded the previous week.
The Financial Services sector was the most active index by volume this week with 629.368 million
shares valued at N5.186 billion traded in 9,887 deals; thus contributing 69.81 per cent and 38.55 per cent to the total equity turnover volume and value respectively.
The ICT industry followed with 59.506 million shares worth N5.161 billion in 684 deals. The third place was the Consumer Goods industry, with a turnover of 57.136 million shares worth N1.385 billion in 2,993 deals.
GTBank, Fidelity Bank and Zenith Bank Plc led the activity chart by volume) accounted for 293.678 million shares worth N4.042 billion in 4,334 deals, contributing 32.58 per cent and 30.05 per cent to the total equity turnover volume and value respectively.
