Sell-pressure in some bellwether stocks like Bua Cement, Dangote Cement and MTNN ensured that the Nigerian equity market closed the week in the negative territory, declining 0.69%.
The All-Share Index shed 266.09 points, representing 0.69%, to close 38,382.39 points on Friday when compared with the 38,648.48 points it closed last week, while Market Capitalization also went down by the same percentage to close at N20.082 trillion.
This year, the bourse has posted -4.69% performance, struggling to catch up with the rally it enjoyed in 2020.
Investors traded a total of 2.342 billion equities worth N19.272 billion in 20,173 deals this week against 1.675 billion shares valued at N23.541 billion in 21,732 deals the previous week.
The Financial Services Industry led the activity chart by volume with 1.888 billion shares valued at N12.446 billion traded in 12,019 deals; thus contributing 80.60% and 64.58% to the total equity turnover volume and value respectively.
The Natural Resources Industry and Conglomerates Goods Industry with 201.260 million shares worth N41.295 million in 27 deals and 62.053 million shares worth N65.672 million in 612 deals, respectively.
Unity Bank Plc, Guaranty Trust Bank Plc and Multiverse Mining and Exploration Plc with the most active equities by volume, accounting for 1.471 billion shares worth N7.114 billion in 2,317 deals, contributing 62.82% and 36.91% to the total equity turnover volume and value respectively.
Eterna which advanced 20.78% topped 32 other gainers this week; it was followed by Real Estate Investment Trust and N Nig. Flour Mills that added 9.94% and 9.73%, respectively.
However, Neimeth International Pharmaceuticals led the 25-loser list, shedding 14.83% this week, while Africa Prudential (-10.08) and NCR (-9.71%) were second and third-worst losers for the week, respectively.