Thursday, April 18, 2024

Equities Market Ends Week Bearish

Trading activities on the floor of the Nigerian Exchange Limited, NGX were largely negative this week with the benchmark index closing slightly bullish only on Thursday while the rest of the sessions closed on a decline.

The NGX All-Share Index and Market Capitalization depreciated by 3.27% to close the week at 98,751.98 and N54.035 trillion respectively.

Similarly, all other indices finished lower with the exception of NGX ASem, NGX AFR Bank Value and NGX Sovereign Bond which appreciated by 16.93%, 1.15%, and 8.25% respectively.

A total turnover of 1.882 billion shares worth N34.149 billion in 48,464 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.377 billion shares valued at N31.584 billion that exchanged hands last week in 42,040 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.275 billion shares valued at N20.427 billion traded in 24,801 deals; thus contributing 67.78% and 59.82% to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 227.237 million shares worth N2.972 billion in 3,351 deals. The third place was the Oil and Gas Industry, with a turnover of 115.327 million shares worth N746.959 million in 2,704 deals.

Investors At NGX End Week On Bearish Sentiment

Trading in the top three equities namely Transnational Corporation Plc, United Bank for Africa Plc and Access Holdings Plc and (measured by volume) accounted for 563.139 million shares worth N10.155 billion in 9,270 deals, contributing 29.93% and 29.74 to the total equity turnover volume and value respectively.

Twenty-seven (27) equities appreciated in price during the week higher than fourteen (14) equities in the previous week. Fifty-four (54) equities depreciated in price lower than sixty- six (66) in the previous week, while seventy-two (72) equities remained unchanged, lower than seventy-four (74) recorded in the previous week.

ETP

A total of 39,238 units valued at N11.534 million were traded this week in 187 deals compared with a total of 477,238 units valued at N26.687 million transacted last week in 262 deals.

BONDS

A total of 102,812 units valued at N96.120 million were traded this week in 46 deals compared with a total of 120,067 units valued at N121.223 million transacted last week in 40 deals.

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