NSE Loss Hits N289bn Amidst Weak Investor Sentiments | TimeTestedNews

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The equity market of the Nigerian Stock Exchange (NSE) racked up further loss this week following a decline in the total value of stocks by N9.757 billion, meaning so far this year, the bourse has depreciated by N288.502 billion or 9.52%.

Only the Industrial Index has recorded positive returns of the 5 sectors assessed, with the Banking Index posting the worst performance, having crumbled by as much 23.75% this year.

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A negative market breadth was recorded this week as 36 losers emerged against 26 gainers. The All Share Index (ASI) and the Market Capitalisation both increased by 1.99% to 24,336.12 basis points and N12.695 trillion respectively.

Trade Volume of 1.016 billion shares worth N7.436 billion was recorded in 18,092 deals this week compared to the 901.542 million shares valued at N13.453 billion posted in 18,676 deals last week.

On the Activity Chart, the Financial Services sector dominated trade with 784.322 million shares estimated at N3.305 billion traded in 10,592 deals. Specifically, it contributed 77.23% and 44.45% to the total equity volume and value respectively. The Oil and Gas sector came next, trading 61.822 million shares worth N418.191 billion in 984 deals. The Consumer Goods industry followed, trading 42.999 million shares priced at N1.102 billion in 2,848 deals.

As regards Index Movement, all indices fell save for NSE Industrial Goods and NSE Lotus II indices, which advanced by 0.52% and 0.94% respectively. NSE ASem did not budge.