Daily Trust (Abuja)

Nigeria: Turnover Declines By 6.13 Percent

Lagos — The Nigerian Capital Market witnessed increased pessimistic trading last week as investors engaged in consistent profit taking activities that halted the three weeks gain as investors scrambled for profits.

According to the Nigerian Stock Exchange (NSE) report of last week, the turnover declined slightly by 6.13 per cent as the market recorded 4.249 billion shares worth N23.177 billion in 39,391 deals compared to a total of 3.572 billion shares valued at N24.692 billion that exchanged hands in the previous week.

Also, 339 units of NewGold Exchange Traded Funds (ETFs) valued at N854, 813 exchanged hands in 6 deals compared to a total of 539 units valued at N1.382 million transacted during the week in 4 deals.

However, NSE All-Share Index depreciated by 0.17 per cent or 55.04 basis points to close the week.

Similarly, market capitalisation of the listed equities depreciated by N16.07 billion or 0.15 per cent to close at N10.643 trillion.

Also, three of the NSE sectorial indices depreciated: Bloomberg NSE 30, Bloomberg NSE Consumer Goods and Bloomberg NSE Banking by 3.81 per cent, 3.22 per cent and 4.40 per cent respectively.

However, Bloomberg NSE Insurance, Bloomberg NSE Oil/Gas and NSE Lotus II appreciated by 4.19 per cent, 1.22 per cent and 6.03 per cent, respectively.

A review of the equity price movements indicated that 51 equities gained while 42 equities recorded price declines and 104 equities remained constant.

When compared with the preceding week, 73 equities gained while 18 equities recorded price declines and 106 equities remained constant.

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