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Research

Weekly Market Review

The NSE ASI closed in bearish form WoW by 0.10% as it closed negative in 3 of the 5 trading sessions during the week as a result of sell pressures in bellwether stocks such as NESTLE (-9.09%) and NB (-8.77%). Consequently, at 39,483.08 points, the equities market’s Year-to-Date return worsened to -1.96% as market capitalisation close at N20.57 trillion.

Market breadth (a measure of investor sentiment) improved last week, rising from 1.00x to 1.09x as 36 stocks appreciated against 33 stocks that declined. HONYFLOUR and PHARMDEKO topped the market gainers with 46.34% and 44.54% WoW respectively, while MEYER and SCOA were the top laggers with declines of 66.10% and 18.46% respectively WoW.

The activity level weakened as the trade volume and value decreased by 46.15% and 2.59% respectively WoW. A total turnover of 866.544 million shares worth N12.257 billion in 17,291 deals were traded during the week by investors on the floor of the Exchange. Trading in the top three equities by volume were HONYFLOUR, TRANSCORP and GTCO. They accounted for 203.753 million shares worth N1.964 billion in 2,515 deals; contributing 23.51% and 16.02% to the total equity turnover volume and value respectively.

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