Business
Nigerian equity slips marginally 0.003% this week
By FELIX OLOYEDE
The sell-pressure on the Nigerian equity market was evident through this week, except on Tuesday, causing it to lost to 0.003 per cent week-on-week.
The NSE All-Share Index and Market Capitalization both depreciated by 0.003 per cent to close the week at 27,918.59 and N13.606 trillion respectively as the bourse only appreciated on Tuesday.
About six sectors dipped with the insurance sector emerging\the highest loser, declining 0.94 per cent during the week.
Investors traded a total of 1.069 billion shares worth N11.393 billion in 16,346 deals this week, compared to a total of 1.086 billion shares valued at N13.390 billion that exchanged hands last week in 15,774 deals.
The Financial Services industry was the most active sector with 606.437 million shares valued at N5.38 billion traded in 7,529 deals, contributing 56.75 per cent and 47.23 per cent to the total equity turnover volume and value respectively and propelled by United Bank for Africa Plc and FCMB Group Plc.
Courteville Business Solutions Plc was the most active equity with 207,137,188 of its shares valued N41.44 million in 78 deals.
During the week, 31 equities appreciated in price, led by NPF MFB, which advanced 14.16 per cent, higher than 15 equities recorded last week.
On the flip side, Linkage Assurance shed -20.31 per cent to lead the 29 equities which depreciated in price; this was lower than 52 equities in the previous week.
