Nigerian equity market sheds 1.11% this week

Losses by Linkage Assurance, Skyway Aviation Handling Company and Guinness Nig. dragged the Nigerian equity market down 1.11 per cent this week.

The NSE All-Share Index (ASI) and Market Capitalization depreciated 1.11 per cent to close the week at 27,755.87 and N14.456 trillion respectively.

The bourse slipped 0.39 per cent on Friday on the back of decline by Guinness Nig., Chams, UACN, GTBank and Fidelity Bank.

All other indices finished lower except for AFR Div Yield and Industrial Goods indices, which was down 0.11 per cent and 0.78 per cent respectively while ASeM Index closed flat.

Investors traded a total turnover of 912.175 million shares worth N12.126 billion in 17,083 deals compared to 1.478 billion shares valued at N20.295 billion that exchanged hands last week in 23,263 deals.

Livestock which appreciated 16.67 per cent, led 18 other equities that advanced this week, while Linkage Assurance declined 25.81 per cent to top 34 other losers.

The Banking sector was the most active in volume terms with 624.219 million shares valued at N7.129 billion traded in 9,640 deals; thus contributing 68.43 per cent and 58.79 per

Zenith Bank, GTBank and UBA were the most active in terms of volume, accounting for 304.089 million combine shares worth N5.79 billion in 4,290 deals, contributing 33.34 per cent and 47.73 per cent to the total equity turnover volume and value respectively.