Tradings on the Nigerian Stock Exchange (NSE) closed bearish for the week as the bourse market continues tanking.
The exchange market traded for four days this week due to the nation’s 59th Independence Day that was celebrated on Tuesday, 1st October 2019. The bearish trend was as a result of major price decliners recorded nearly across all boards and investors’ negative sentiment.
The Financial Services industry led the activity chart, followed by The Conglomerates Industry and finally The Construction/Real Estate Industry. They added N5.91 billion, N124.51 million and N62.6 million respectively to the Market Capitalization.
The All-Share Index (ASI) dips by -2.48% to close at 26,987.45 basis points. The NSEASI Year-to-Date currently stands at -14.14%. The NSE Premium Index, Banking Index, Oil & Gas Index, Insurance Index all depreciated for the week. The slips by -2.15%, -3.94%, -2.25% respectively.
Others include; The NSE-Main Board Index, NSE-AFR Bank Value Index, NSE Consumer Goods Index, and NSE MERI Growth Index all declined for the week. The Insurance and Industrial Goods Index appreciated for the week, contributing 5.71%, and 0.14% apiece to the total market equity.
Fifteen stocks appreciated in price for the week while Thirty-nine stocks declined in price. A total number of one hundred and twelve stocks remained unchanged for the week ended.
Continental Reinsurance Plc was the best-performing stock for the week. The stock advanced by 20.11% to close at N2.27. Law Union And Rock Insurance Plc appreciated by 12.82% to close at 44 Kobo. Niger Insurance Plc went up by 10% to close at 22 Kobo.
On the flip side, Fidson Healthcare Plc was the worst-performing stock for the week. The stock declined by -18.89% to close at N3.65. Ecobank Transnational Incorporated Plc depreciated by -14.61% to close at N7.60.
United African Company of Nigeria Plc completed the top three price losers for the week. The consumer goods firm depreciated by -14.38% to close at N6.55.