Financial Services Sector Records 7 Gainers to 32 Losers YTD; LAWUNION Leads With 100% YTD Return
Tuesday, April 28, 2020 04:20 PM / by Proshare Research/ Header Image Credit: Vskills
Financial Services Sector, no doubt, is one of the most active sectors on the Nigerian bourse. The sector accounted for 89.76% of the market volume traded before the lockdown and 81.67% of volume traded during the lockdown as at April 22nd, 2020.
A performance review of the stocks listed in the sector on the Nigerian Stock Exchange reflected that it has been bearish so far in the year. A review of the NSE Banking Index revealed that it has so far dropped by -25.88% YTD as against -15.74% YTD loss recorded by the NSEASI. This suggested the NSE Banking Index has so far underperformed the NSEASI in year 2020.
Table 1: NSEASI vs Banking Index YTD Returns
Indices
31-Dec-19
27-Apr-20
Return (%)
NSEASI
26,842.07
22,616.28
-15.74%
NSE Banking Index
356.84
264.48
-25.88%
Source: NSE, Proshare Research
Table 2: Gainers and Losers YTD
Tuesday, April 28, 2020 04:20 PM / by Proshare Research/ Header Image Credit: Vskills
Financial Services Sector, no doubt, is one of the most active sectors on the Nigerian bourse. The sector accounted for 89.76% of the market volume traded before the lockdown and 81.67% of volume traded during the lockdown as at April 22nd, 2020.
A performance review of the stocks listed in the sector on the Nigerian Stock Exchange reflected that it has been bearish so far in the year. A review of the NSE Banking Index revealed that it has so far dropped by -25.88% YTD as against -15.74% YTD loss recorded by the NSEASI. This suggested the NSE Banking Index has so far underperformed the NSEASI in year 2020.
Table 1: NSEASI vs Banking Index YTD Returns
Indices
31-Dec-19
27-Apr-20
Return (%)
NSEASI
26,842.07
22,616.28
-15.74%
NSE Banking Index
356.84
264.48
-25.88%
Source: NSE, Proshare Research
Table 2: Gainers and Losers YTD
