The Nigerian Stock Exchange (NSE) posted its first two losses for 2020 this week as profit-taking dragged performance down on Tuesday and Wednesday.
It rallied on Thursday thanks to investors’ swelling interest in blue-chip stocks.
However, three days of gain tempered the impact of two straight days of losses on the overall market performance, causing market capitalisation to climbed up by N81 billion as the wound down.
Investors had reason to be happy as all the key market performance indicators appreciated. However, a negative market breadth was recorded this week as 21 gainers were recorded compared to 42 losers. The All Share Index (ASI) grew marginally by 0.69% to 29,618.52 basis points. Market Capitalisation similarly grew, in this case by 0.54% to close at N15.256 trillion.
Trade Volume of 2.087 billion shares worth N26.470 billion was recorded in 24,262 deals this week compared to the 2.683 billion shares valued at N21.675 billion posted in 30,956 deals last week.
On the Activity Chart, the Financial Services sector dominated trade with 1.117 billion shares estimated at N13.693 billion traded in 13,739 transactions. In other words, it contributed 53.51% and 51.73% to the total equity volume and value respectively. The Healthcare sector traded 521.893 million shares worth N182.965 million in 420 deals. The Conglomerates sector came third, trading 123.606 million shares priced at N573.907 million in 1,164 deals.
As regards Index Movement, all indices slumped save for the NSE 30, NSE CG, NSE Premium, NSE Banking, NSE Afri Bank Value, NSE MERI Value and NSE Oil and Gas Index, which grew by 0.66%, 0.64%, 3.85%, 2.30%, 2.67%, 1.74% and 0.57% respectively. The NSE ASem Index closed flat.
Continental Reinsurance Plc delisted its entire issued share capital from the NSE on Friday following a Scheme
of Arrangement by which CRe African Investments Limited will acquire all the 10,372,744,312 ordinary shares of Continental Reinsurance. By this move, the firm ceased to be a quoted company on the Exchange.