Market Volume Bears Amidst Bullish Indicators

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The volume of traded equities on the floor of the Nigerian Stock Exchange (NSE) Monday beared, to differentiate itself from other market indicators that show cased the return of the bull’s season.

NSE’s All-Share Index, market capitalisation and the value of shares traded, all rose to end the day on a positive note.

Specifically, market closed at 25,278.23 points, adding 200.50 points to 25.077.73 points traded Friday to close last week’s transactions.

Also, market capitalisation went up by N49.1 billion from N6.145 trillion traded Friday, to close higher at N6.194 trillion.

The value of traded equities also appreciated by N2.7 billion from N2.9 billion traded on Friday to close at N5.6 billion, almost double of the previous transaction.

However, the volume of shares traded declined by 111,280,206 shares from 415,630,185 shares traded on Friday, to close lower at 304,349,979 shares.

Meanwhile, investors traded a total of 304,349,979 shares worth to N5.6 billion in 6,049 deals, compared to 415,630,185 shares valued at N2.9 billion which exchanged hands in 5,559 deals.

50 companies made gains in their transactions led by Oando which opened and closed at N63.00 and 66.15 respectively, gaining N3.15 per share.

WAPCO, Flourmill and 7UP followed with N2.04, N1.95 and N1.83 gain per share respectively.

However, only 17 companies lost in their transactions led by Guinness which lost N4.92 per share.

NB, Cadbury, NBC and Nestle all lost N2.30, N1.65, N1.51 and N1 per share respectively to square up behind Guinness on the losers chart.