Nigerian equities rounded off the week on a tepid note as the NSE All-Share Index trended southwards by 0.24% to close at 41,001.99 points. Sustained selloffs on insurance, banking, and industrial tickers suppressed broad market sentiments. For specifics, WAPCO edged lower by 1.95% while UBA, ACCESS, and ETI slipped by 2.79%, 1.08%, and 0.76% respectively. Elsewhere, NEM (-9.67%), JAPAULGOLD (-9.52%), AIICO (-9.72%) and MBENEFIT (-10.00%) all lost points to lead on the laggards table. Over the week, the gauge amassed points in just one out of five trading sessions with a WTD return of -0.42%. In all, year-to-date (YTD) return tapered to 1.82% while market capitalization went down by ₦81.5 billion w/w to end the week at ₦21.45 trillion.
NSE Sector Indices: With the exception of gains printed on NSE Consumer Goods Index, the performance of all sector indices under our coverage closed on a negative note. NSE Insurance, NSE Banking, and NSE Oil & Gas Index declined by 7.93%, 0.17%, and 0.29% respectively while NSE Industrial Index edged lower by 0.50%.
Meanwhile, market activities closed on a lower note with volume and value of trades declining by 47.3% and 20.7% respectively. A total of 591 million units of shares "â€ valued at ₦5.07 billion were traded in 5,767 deals. TRANSCORP (-9.38%) led the volume chart with 169 million units traded while MTNN (0.00%) led the value chart with deals worth over ₦1.04 billion.
Market breadth closed negative at a 0.63-to-1 ratio with declining issues outnumbering advancing ones. NCR (+9.86%) topped twenty-one (21) others on the gainer's log while LIVESTOCK (-10.00%) led thirty-two (33) others on the laggard's table.