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Equities market rebounds marginally by 0.09%

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Gains resurfaced in the equities market, halting the three-week losing streak, as the All Share Index (ASI) inched up by 0.09 per cent to 36,636.97 points, amidst bargain hunting and investor reactions to corporate releases.

As a result, the Month-to-Date and Year-to-Date losses moderated slightly to -4.29 per cent and -4.20 per cent respectively, as three of the five sessions of the week closed positive.

During the five-day trading, a total turnover of 1.417 billion shares worth N16.739 billion in 19,832 deals were traded by investors on the floor of the Exchange in contrast to a total of 1.665 billion shares valued at N14.834 billion that exchanged hands last week in 18,795 deals, as investors takes up interim divident-paying stocks.

The Financial Services Industry led the activity chart with 832.842 million shares valued at N8.823 billion traded in 10,851 deals; thus contributing 58.76 per cent and 52.71 per cent to the total equity turnover volume and value respectively.

The Services Industry followed with 320.350 million shares worth N679.981 million in 584 deals. The third place was occupied by Conglomerates Industry with a turnover of 99.403 million shares worth N147.372 million in 1,000 deals.

Medview Airline Plc, FBN Holdings Plc and Zenith International Bank Plc were the choice stocks for the week as they accounted for 578.789 million shares worth N5.153 billion in 2,874 deals, contributing 40.83 per cent and 30.78 per cent to the total equity turnover volume and value respectively.

All other indices finished higher with the exception of the NSE Premium, NSE Consumer Goods, NSE Oil/Gas, NSE Industrial Goods, NSE Pension Indices that depreciated by 0.16, 0.19, 3.74, 4.40 and 0.56 percentages respectively.

By the end of trading session for the week, 31 equities appreciated in price, higher than 16 in the previous week. 48 equities depreciated in price, lower than 59 equities of the previous week, while 90 equities remained unchanged lower than 94 equities recorded in the preceding week.

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