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Nigerian Stock Exchange: Market Sustains Further Losses into Weekend

By on January 20, 2012

The Nigerian Stock Exchange succumbed to further sell-side pressure as the bears caused the Index to drop 0.44%. The market capitalization of the bourse also reduced by a similar margin and it currently stands at N 6.56 trillion or $ 40 billion.

The All Share Index retreated to 20,820.32, bringing the weekly performance to -0.10% and the year-to-date performance to 0.43%.

The volume of shares traded today fell by 4% although the value experienced an appreciation of 17%.
The banking sub-sector was predominantly bearish, as only three tickers namely, Zenith, Wema and First Bank recorded appreciation.

Here is a snapshot of today’s top gainers:

Here is a snapshot of the trailers category:

Activity in the market was dominated by the banking sector. Skye led the number of trades with 28.7 million shares, Diamond traded 22.1 million shares. UBA, FCMB and Zenith also traded large volumes.