Lagos — Transactions on the Nigerian Stock Exchange (NSE) closed this week on downward trend as stocks trade bearish for 5 straight days.

Market outlook during the week reveals sustained sell pressure with growing momentum as the bears dominates market activities across the board while key market indicator closes below

The index movement during the week show that the NSE All-Share Index depreciated by 3.09 per cent to close on Friday at 37,145.65 while the market capitalization of the listed equities on the main board also declined by N374 billion or 3.09 per cent to close at N11.764 trillion. Also, the NSE 30 Index depreciated by 3.88 per cent to close at 1,742.22.

Five of the NSE indices depreciated during the week: NSE Consumer Goods, NSE Banking, NSE Insurance, NSE-Lotus II and NSE Industrial Goods declined by 4.50 per cent, 6.40 per cent, 0.58 per cent, 2.02 per cent and 0.46 per cent respectively. The NSE Oil/Gas appreciated by 7.93 per cent while NSE-ASeM remained unchanged.

Consequently, a turnover of 2.500 billion shares worth of N17.035 billion in 28,638 deals were traded this week by investors on the floor of the exchange in contrast to a total of 1.886 billion shares valued at N15.536 billion that exchanged hands last week in 28,619 deals. The Financial Services sector (measured by volume) led the activity chart with a turnover of 1.139 billion shares valued at N8.847 billion traded in 15,274 deals; contributing 45.58 per cent, 51.93 per cent, 53.33 per cent to the total equity turnover volume, value and number of deals respectively.

The diversified industries subsector of the Conglomerates sector was the most active during the week. Volume in the subsector was driven by activity in the shares of Transnational Corporation of Nigeria Plc which accounted for 1.021 billion shares, representing 99.63 per cent and 40.68 per cent of turnover recorded by the subsector and total turnover for the week, respectively.

The Banking subsector of the Financial Services sector boosted by activity in the shares of Sterling Bank Plc followed on the week's activity chart with a subsector turnover of 706.877 million shares valued at N6.232 billion exchanged hands by investors in 10,169 deals.

The equities market closed Monday on a negative note, as the NSE ASI depreciated by 0.62 per cent to close at 38,090.75 points, compared with the depreciation of 0.02 per cent recorded previously. The market capitalization also depreciated by 0.62 per cent to close at N12.063 trillion, compared with depreciation of 0.02 per cent recorded previously to close at N12.138 trillion.

NSE-Oil, NSE-Insurance and NSE-LII stocks were the most supportive as captured by NSE sector indices. NSE-30 closed negative by 0.70 per cent as NSE-Food declined by 1.46 per cent.

On Tuesday, equities market closed on a negative note, as the NSE ASI depreciated by 0.54 per cent to close at 37,885.58 points, while market capitalization also depreciated by 0.54 per cent to close at N11.998 trillion.

NSE-30, NSE-Food and NSE-LII stocks were the most supportive as captured by NSE sector indices. NSE-Banking closed negative by 0.39 per cent as NSE-Industrial moved up by 0.04 per cent.

Market outlook reveals sustained price volatility on Wednesday, when equities market closed on a negative note, as the NSE ASI depreciated by 0.87 per cent to close at 37,554.73 points, and market capitalization also depreciated by 0.87 per cent to close at N11.893 trillion.

NSE-Oil and Gas and NSE-Food stocks were the most supportive as captured by NSE sector indices. NSE-30 closed negative by 1.07 per cent as NSE-Insurance moved down by 1.66 per cent.

On Thursday, market transaction closed on a negative note, as the NSE ASI depreciated by 0.71 per cent to close at 37,286.50 points, while market capitalization also depreciated by 0.71 per cent to close at N11.808 trillion.

NSE-Food, NSE Banking and NSE-Insurance stocks were the worst hit as captured by NSE sector indices. NSE-30 closed negative by 0.92 per cent as NSE-Oil & Gas moved down by 0.45 per cent.

The equities market closed Friday on a negative trend, as the NSE ASI depreciated by 0.38 per cent to close at 37,145.65 points and the market capitalization also depreciated by 0.38 per cent to close at N11.764 trillion.

During the day, NSE Oil & Gas and NSE-Insurance stocks were the most supportive as captured by NSE sector indices. NSE-30 closed negative by 0.59 per cent as NSE-Food moved down by 1.01 per cent.

Twenty eight equities appreciated in prices during the week lower than 50 equities of the preceding week. Sixty equities depreciated in prices higher than 39 equities of the preceding week, while 106 equities remained constant higher than 105 equities of the preceding week.

Forte Oil Plc led the gainers chart with N14.06 kobo or 47.24 per cent, followed by MRS Oil Nigeria Plc with N10.86 kobo or 42.96 per cent, Conoil Plc with N8.37 kobo or 33.08 per cent, Champion Brew. Plc with N2.46 kobo or 28.81 per cent, Paints and Coatings Manufactures Plc with N0.16 kobo or 9.64 per cent, Pharma-Deko Plc with N0.18 kobo or 9.63 per cent, GlaxoSmithKline consumer Nig. Plc with N5.00 kobo or 9.09 per cent, Beta Glass Co Plc with N0.90 kobo or 9.00 per cent, AG Leventis Nigeria Plc with N0.13 kobo or 8.97 per cent and Neimeth International Pharmaceuticals Plc with N0.12 kobo or 8.70 per cent.

Trans-Nationwide Express Plc led on the losers chart with N0.67 kobo or 33.67 per cent, followed by ABC Transport Plc with N0.26 kobo or 20.16 per cent, IHS Plc with N0.74 kobo or 19.53 per cent, NPF Microfinance Bank Plc with N0.16 or 16.67 per cent, Ipwa Plc with N0.20 kobo or 15.50 per cent, Guinness Nig Plc with N30.00 kobo or 11.54 per cent, Royal Exchange Plc with N0.07 kobo or 11.29 per cent, Costain (W A) Plc with N0.15 kobo or 10.34 per cent,

International Energy Insurance Company Plc with N0.25 kobo or 10.00 per cent and Academy Press Plc with N0.18 kobo or 10.00 per cent.