SAT 23 JAN, 2021-theGBJournal- A total turnover of 4.288 billion shares worth N25.989 billion in 32,849 deals were traded this week by investors on the floor of the Nigerian Stock Exchange (NSE), in contrast to a total of 3.447 billion shares valued at N32.725 billion that exchanged hands last week in 30,327 deals.
However, trading was dominated by bearish sentiments as profit-taking activities dominated market performance throughout the week. all other indices finished lower with the exception of NSE MERI Growth which appreciated by 0.12% while the NSE ASeM and NSE Growth Indices closed flat.
Apart for the mid-week session, the market posted marginal losses on the other trading days. Accordingly, the All-Share Index declined by 0.4% w/w to close at 41,001.99 points. Consequently, the YTD return moderated to 1.8%.
Activity levels were mixed, as trading volumes rose by 5.2% w/w while value traded declined by 21.8% w/w. Notably, selloffs in UBA (-6.0%), ACCESS (-5.7%), FLOURMILL (-2.4%), DANGCEM (-1.3%) and BUACEMENT (-1.1%) drove the weekly loss.
The performances across the sectors were broadly negative – the Banking (-17.5%) index led the losers’ chart followed by Insurance (-0.8%), Industrial Goods (-0.5%) Consumer Goods (-0.1%), and Oil and Gas (-0.1%) indices.
The Financial Services Industry (measured by volume) led the activity chart with 2.607 billion shares valued at N12.454 billion traded in 15,128 deals; thus contributing 60.81% and 47.92% to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 813.813 million shares worth N1.561 billion in 2,417 deals. The third place was Oil and Gas Industry, with a turnover of 212.126 million shares worth N821.978 million in 2,726 deals.
Trading in the top three equities namely Transnational Corporation of Nigeria, Living Trust Mortgage Bank Plc and Japaul Gold and Ventures Plc (measured by volume) accounted for 1.582 billion shares worth N1.564 billion in 2,726 deals, contributing 36.9% and 6.02% to the total equity turnover volume and value respectively.
Overall, Fifty-three equities appreciated in price during the week, lower than sixty equities in the previous week. Twenty-nine equities depreciated in price, higher than nineteen equities in the previous week, while seventy-nine equities remained unchanged, lower than eighty-two recorded in the previous week.