Last
week’s nationalization of three listed banks seemed to be the push this
market had been ignoring. A market that had been on edge for some
time briefly appeared to be tottering. It may have been emotional but
certainly not irrational.
It appeared to show its discontent with the nationalization during the first three days of trading, the NSE-ASI dropped some 1,061 points (-4.53%). It then reversed its path in the last two days appearing to pick up the pieces from what may have been an overreation.
Although volume appeared normal, the number of transactions for the first and last days dipped below 4,000 for the first time since Sept 2009. However volume per transaction was up by some 28%. The NSE-ASI closed at 22,775.55 -2.66% (-1.80% in the previous week). Volume for the week was a cumulative 1.70 billion shares (1.39 billion shares in the previous week).
A premium profile on BroadStreetLagos.com gives you access to the data you need. Over the next few weeks we will discuss more indicators, phrases and companies.
It appeared to show its discontent with the nationalization during the first three days of trading, the NSE-ASI dropped some 1,061 points (-4.53%). It then reversed its path in the last two days appearing to pick up the pieces from what may have been an overreation.
Although volume appeared normal, the number of transactions for the first and last days dipped below 4,000 for the first time since Sept 2009. However volume per transaction was up by some 28%. The NSE-ASI closed at 22,775.55 -2.66% (-1.80% in the previous week). Volume for the week was a cumulative 1.70 billion shares (1.39 billion shares in the previous week).
A premium profile on BroadStreetLagos.com gives you access to the data you need. Over the next few weeks we will discuss more indicators, phrases and companies.
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