Nigeria’s stock market closed the trading week ended June 5 on a negative note after Friday’s trading session ended in red.
Profit taking in large cap stocks like Dangote Cement Plc, BUA Cement Plc, Nigerian Breweries Plc, Cadbury Nigeria Plc and Guinness Nigeria Plc help fuel the journey southward.
Investors in the market booked N118billion loss in the review trading week. Its Year-to-Date (YtD) negative returns increased to -6.80percent.
The NSE ASI decreased by 1 percent to 25,016.30 points, while the value of listed stocks decreased to N13.049trillion.
The market recorded total turnover of 1.469 billion shares worth N23.553 billion in 22,911 deals, in contrast to a total of 1.255 billion shares valued at N13.501 billion that exchanged hands preceding week in 20,554 deals.
The Financial Services industry (measured by volume) led the activity chart with 861.775 million shares valued at N8.545 billion traded in 11,647 deals; thus contributing 58.66percent and 36.28percent to the total equity turnover volume and value respectively.
The Consumer Goods industry followed with 184.644 million shares worth N5.880 billion in 3,953 deals and the Services industry, with a turnover of 119.238 million shares worth N270.084 million in 1,043 deals.
Trading in the Top Three Equities namely FBN Holdings Plc, Guaranty Trust Bank Plc and Zenith Bank Plc. (measured by volume) accounted for 456.576 million shares worth N6.940 billion in 5,921 deals, contributing 31.08percent and 29.47percent to the total equity turnover volume and value respectively.
All other indices finished lower with the exception of NSE AFR Div Yield and NSE Consumer Goods Indices which appreciated by 1.20percent and 0.26percent respectively while NSE ASeM closed flat.
Twenty-six (26) equities appreciated in price during the review week, lower than thirty-four (34) equities in the preceding week. Thirty-nine (39) equities depreciated in price, higher than twenty-one (21) equities in the preceding week, while ninety-eight (98) equities remained unchanged, lower than one hundred and eight (108) equities recorded in the preceding week.
