Equity market closes week negative on profit taking

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Transactions on the equity market closed last week on the negative note following continuous profit takings by investors leveraging previous weeks’ bullish trends.

The NSE All-Share Index and market capitalisation depreciated by 2.53 per cent to close the week at 34,250.74 and N17.90tn, respectively.A total turnover of 2.27billion shares worth N20.99bn in 23,722 deals were traded last week by investors on the floor of the exchange, in contrast to a total of 1.68bn shares valued at N25.43bn that exchanged hands the previous week in 23,650 deals.

The consumer goods industry followed with 116.40 million shares worth N2.82bn in 3,474 deals. The third place was conglomerates industry, with a turnover of 107.80 million shares worth N231.32m in 897 deals. On the bourse, 13 equities appreciated in price during the week, lower than 22 equities in the previous week.

 

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