Investors At NGX End Week On Bearish Sentiment

Investors at Nigeria’s stock market end week on bearish sentiment as equity sustained a downward trend for a third consecutive day as key index dipped further by 1.39 percent at close of business on Friday.

Consequently, the NGX All-Share Index and Market Capitalization for the entire week depreciated by 0.11% to close at 67,324.59 and N36.847 trillion.

All other indices finished higher with the exception of NGX 30, NGX Premium, NGX AFR Div Yield, NGX Lotus ll, NGX Industrial Goods, NGX Growth and NGX Pension Broad which dropped by 0.13%, 3.45%, 1.72%, 0.12%, 4.80%, 0.36% and 0.14% respectively while the NGX ASeM index closed flat

Under Tinubu’s leadership, investors are losing faith in Nigeria’s economy – PDP

A total turnover of 3.911 billion shares worth N30.379 billion in 38,536 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.933 billion shares valued at N47.449 billion that exchanged hands last week in 44,654 deals.

Sectoral Performance

The Financial Services Industry when measured by volume led the activity chart with 2.774 billion shares valued at N15.241 billion traded in 16,379 deals; thus contributing 70.92% and 50.17% to the total equity turnover volume and value.

The Oil and Gas Industry followed with 438.508 million shares worth N5.203 billion in 6,258 deals.

The third place was the ICT Industry, with a turnover of 294.470 million shares worth N4.447 billion in 3,078 deals.

Trade Volume

Trading in the top three equities namely Universal Insurance Plc, Oando Plc and United Bank for Africa Plc when measured by volume accounted for 2.212 billion shares worth N8.907 billion in 7,593 deals, contributing 56.56% and 29.32% to the total equity turnover volume and value respectively.

ETP

In the ETP segment of the market a total of 51,116 units valued at N4.485 million were traded this week in 112 deals compared with a total of 16,562 units valued at N2.658 million transacted last week in 73 deals.

BONDS

In the bonds market, a total of 95,921 units valued at N98.305 million were traded this week in 27 deals compared with a total of 94,257 units valued at N103.270 million transacted last week in 33 deals