NGX: Bearish sentiments dominate transactions as stocks depreciate by 2.18%

Bearish sentiments dominated transactions on the floor of the Nigeria Exchange Group Limited (NGX), throughout the trading sessions of the week as major indices dropped by 2.18 percent.

 

Investors witnessed losses and negative trajectory occasioned by profit-taking and bargain hunting in large and medium cap stocks.

 

The NGX All-Share Index and Market Capitalization depreciated by 2.18% to close the week at 52,908.24 and N28.523 trillion respectively.

 

Similarly, all other indices finished lower with the exception of the NGX-Insurance, NGX AFr Div Yield and NGX Growth index which appreciated at 0.83%, 0.58% and 0.74% while, the NGX Asem index and NGX Sovereign bond closed flat.

 

At the end of the week, a total turnover of 28.736 billion shares worth N209.060 billion was traded by investors on the floor of the Exchange in 23,688 deals.

 

This is in contrast to a total of 1.840 billion shares valued at N27.286 billion that exchanged hands last week in 27,273 deals.

 

The Financial Services Industry (measured by volume) led the activity chart with 28.048 billion shares valued at N198.017 billion traded in 10,416 deals; thus contributing 97.61% and 94.72% to the total equity turnover volume and value respectively.

 

The Conglomerates Industry followed with 434.845 million shares worth 1.339 billion in 1,225 deals. The third place was the Consumer Goods Industry, with a turnover of 74.111 million shares worth N2.853 billion in 3,835 deals.

 

Trading in the top three equities namely Union Bank of Nigeria Plc, Transnational

Corporation Plc and FBN Holdings Plc when measured by volume accounted for 27.841 million shares worth N193.488 billion in 1,872 deals, contributing 96.89% and 92.55% to the total equity turnover volume and value.

 

 

ETP

 

A total of 43,648 units valued at N987,351.25 were traded this week in 24 deals compared with a total of 26,718 units valued at N2.381 million transacted last week in 26 deals.

 

 

BONDS

 

The bonds segment of the market with a total of 20,402 units valued at N21.440 million were traded in 10 deals to end the week compared with a total of 157,574 units valued at N164.735 million transacted last week in 22 deals.