Local equities market sustains negative pull, sheds 2.45% WoW

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Local equities market sustains negative pull, sheds 2.45% WoW
Capital Market
By Kehinde Akinseinde-Jayeoba | Lagos On Mar 18, 2019



The Nigerian Stock Exchange (NSE) over the seven-day trade continued a bearish run associated to profit taking and cautious trading by investors who await clear direction after the elections period.
Specifically, All-share index (ASI) and market capitalisation depreciated by 2.45 per cent to close the week at 31,142.72 basis points and N11.614 trillion respectively, as Month-to-Date and Year-to-Date returns dip 1.8 per cent and 0.9 per cent.


According to the NSE weekly market update reports that follow the same trend, all other indices on the domestic bourse finished lower with the exception of the NSE Alternative Securities Market (ASeM) and NSE Oil/Gas indices which appreciated by +0.21 percent and +0.09 per cent respectively.
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A breakdown of all the other sector indices shows the Banking with a loss of -6.13 per cent led the losers pack, followed closely by the Industrial and Insurance sectors which declined -1.12 percent and -0.79 per cent each, while the Consumer Goods index depreciated by -0.43 per cent.


Over the week under review, a total turnover of 1.113 billion shares worth N13.465 billion in 15,036 deals were traded this week by investors on the floor of the Exchange compared to a total of 1.290 billion shares valued at N13.873 billion that exchanged hands last week in 17,307 deals.

The Financial Services Industry (measured by volume) led the activity chart with 926.286 million shares valued at N9.696 billion traded in 9,906 deals; thus contributing 83.25 per cent and 72.01 per cent to the total equity turnover volume and value respectively.