Na so investors for Nigeria stock market last week decide to collect their profit wey dem don make from the market. This profit-taking action don make the market cool small after some weeks of steady rise. The thing affect the two main indicators wey dem dey use measure market performance.
Market capitalisation wey represent the total value of all companies for the exchange drop from N129.125 trillion wey e be the previous week go down reach N128.969 trillion. The market index wey show how share prices dey move also drop by 0.12% to settle at 200,913.06 points from 201,156.86 points wey e be before.
When you look the trading activity well well, investors trade total of 3.950 billion shares worth N201.312 billion for 359,642 deals. This one no reach the previous week own wey investors trade 8.761 billion shares worth N267.253 billion for 193,473 deals. The volume of trading don reduce but the number of deals increase well well.
Financial Services Industry carry first for trading activity. Dem trade 2.881 billion shares worth N102.259 billion for 139,093 deals. This one contribute 72.94% of the total volume and 50.80% of the total value wey dem trade for the week. Na the sector wey dominate the market as usual.
ICT Industry follow with 230.539 million shares worth N45.172 billion for 52,669 deals. Agriculture Industry come third with 191.927 million shares worth N6.626 billion for 16,471 deals. These three industries na the main drivers of market activity for the week.
Three banks wey be Wema Bank Plc, Access Holdings Plc and United Bank for Africa Plc account for 1.448 billion shares worth N43.191 billion for 28,436 deals. These three banks alone contribute 36.65% of the total volume and 21.45% of the total value wey dem trade for the week.
For the sector indices wey dem dey track, Insurance Index gain 1.53%, NGX AFR Dividend Yield Index rise by 2.22%, NGX Oil & Gas Index increase by 1.36%, NGX Lotus II Index go up by 1.93%, NGX Growth Index appreciate by 1.61%, and NGX Commodity Index jump by 2.77%. Only NGX Sovereign Bond index remain the same without any movement.
When you check the individual companies, 47 equities gain value for the week. This one small pass the 48 equities wey gain the previous week. For the other side, 45 equities lose value, this one higher than the 43 equities wey lose value the week before. 56 equities remain the same without any price change, small pass the 57 equities wey remain unchanged the previous week.
The market movement show say investors dey careful. Some don cash out their profit after the market don rise for some time. Others still dey hold their shares to see wetin go happen next. The trading volume reduce but the number of deals increase, meaning say small-small transactions dey happen pass big ones.
Market analysts dey watch the situation. Some say na normal correction after market don rise. Others dey look at the economic indicators wey dey come out. The thing no be say investors don lose confidence for the market, but dem just dey manage their profit. Next week go show if the profit-taking continue or if investors go return to buy more shares.
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