Equities Market Opens Week On N188 Billion W/W Decline
ISMAIL MUSA
Equities market opens Monday, the beginning of the last trading week in February, on N188 billion decline in market capitalisation garnered from the four sessions of the depressive trend last week ended Friday, February 21, 2020.
The equities market capitalisation opened the week on Monday, February 17th at N14,455,932 trillion, but closed the week Friday at N14,268,248 trillion, reflecting the loss in investors funds by N188 billion in four days of bearish run.
As expected, the Nigerian equities market, for the week ended Friday, February 21, 2020, were dominated by the bears, amidst continued risk-off sentiments and the absence of positive market catalysts.
The week recorded four days of depressive trend and a day when the market closed in green. Consequently, after 4 trading days of losses. The NSE All-Share Index and Market Capitalization depreciated w/w by 1.32 percent and 1.30 percent to close the week at 27,388.62 and N14.268 trillion respectively.
Data from the Nigerian bourse showed that all other indices finished lower during the week with the exception of NSE Industrial Goods index which appreciated by 1.02 percent, while NSE ASem Index, otherwise known as the growth board closed flat.
The price movement chart for the week showed that 24 equities appreciated in price during the week, higher than 19 equities in the previous week. The decliners chart showed that 28 equities depreciated in price, lower than 35 equities in the previous week, while 111 equities remained unchanged, higher than 109 equities recorded in the preceding week.
Analysing the week’s performance by sectors, significant losses recorded in the Consumer Goods sector dampened the market performance, after the index plummeted by 6.8 percent.
Also, the Banking sector declined by 2.6 percent, Insurance by -2.1 percent, and Oil and Gas index by -1.28 percent, all closing the week negative. On the flip side, a gain of 1.0 percent was recorded in the Industrial Goods sector during the week.
Daily analysis of proceedings last week, showed that the week opened bearish which lasted till Friday, but the trend was broken on Thursday when the market closed positive.
On Friday, the Nigerian equities market closed negative Friday as NSE-ASI lost 0.65 percent to close at 27,388.62pts. Similarly, the market lost 1.32 percent WTD.
In Friday’s trade, the market breadth index was negative with 20 losers against 14 gainers. SKYAVN dipped -9.97 percent and was the top for the day, while JAIZBANK which gained +9.52 percent led the gainers’ chart.
Zenith Bank with +2.32 percent share price growth was the most actively traded stock Friday with about 112million units of shares worth about N2.24billion.
Sector Performance Friday showed that the NSE Consumer Goods Index lost 5.39 percent, following the declines in NESTLE by -9.02 percent, NB by -5.92 percent, HONEYFLOUR by -1.94 percent and Vitafoam by -1.10 percent.
NSE Industrial Index rose Friday by 0.47 percent, as a result of the buying interest in BUACEMENT which appreciated by 1.11 percent.
The NSE Banking Index on the last trading day of the week advanced by 0.34 percent, on the back of gains witnessed in UBN by 7.04 percent, FCMB by +2.63 percent, Zenith Bank by +2.32 percent and FIDELITY by +0.47 percent.
The NSE Oil & Gas Index rose by 0.15 per cent, following the increase in OANDO by +1.23 percent.
The Nigerian equities market closed negative Friday as NSE-ASI lost 0.65% to close at 27,388.62pts. Similarly, the market lost 1.32 percent WTD.
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