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Equities market slumps 2.09 per cent in one week

Trading activities on the equities market reversed the gains recorded previous weeks as the All Share Index dipped by 2.09 percent to clsoe the week ended 15th December at 38,436.08 points.

The performance for the week, was premised on losses in the Banking Index that fell 5.33 per cent, following profit taking in top tier banking stocks.

The Industrial Goods index also suffered a loss of 4.79 per cent, while the Insurance index dropped 2.19 percent.

Conversely, the Oil & Gas index appreciated 5.47 per cent and Consumer Goods index grew 0.68 per cent as a result of investors demand for Seplat that rose 7.73 per cent and Dangote Sugar which grew 8.34 per cent.

The Month-to-Date and Year-to Date returns thus moderated to 1.30 per cent and 43.02 per cent respectively, just as the market capitalization appreciated by 0.04 per cent to close the week at N13.678 trillion.

16 equities topped by Berger paints, appreciated in price during the week, lower than 47 of the previous week.

Linkage Assurance led 46 equities that depreciated in price, higher than 20 equities of the previous week, while 110 equities remained unchanged higher than 105 equities recorded in the preceding week.

A total turnover of 1.852 billion shares worth N51.523 billion in 23,863 deals were traded by investors on the floor of the Exchange in contrast to a total of 3.316 billion shares valued at N36.451bn that exchanged hands previous week in 29,771 deals.

The Financial Services Industry led the activity chart by volume with 1.377 billion shares valued at N17.137bn traded in 14,334 deals; thus contributing 74.35 percent and 33.26 percent to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 175.880 million shares worth N8.044bn in 4,882 deals.

The third place was occupied by Conglomerates Industry with a turnover of 134.882 million shares worth N821.653m in 1,108 deals.

Trading in the Top Three Equities were Zenith International Bank Plc, FBN Holdings Plc and Diamond Bank Plc. They accounted for 632.027 million shares worth N8.494bn in 5,616 deals, contributing 34.13 per cent and 16.49 per cent to the total equity turnover volume and value respectively.

Adesola Afolabi

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