Stock Market Records N120bn Weekly Loss
The equities segment of the Nigerian Stock Exchange closed on a negative note last week as investors lost N120bn.
The NSE All-Share Index and market capitalisation both depreciated by 1.00 per cent to close the week at 25,016.30 basis point, compared to 25,267.82 a week ago.
The market capitalisation of equities dropped to N13.05tn on Friday from N13.17tn a week ago.
All other indices finished lower with the exception of NSE AFR Div Yield and NSE Consumer Goods Indices, which appreciated by 1.20 per cent and 0.26 per cent respectively while NSE ASeM closed flat.
A total turnover of 1.469 billion shares worth N23.55bn in 22,911 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 1.255 billion shares valued at N13.50bn that exchanged hands the preceding week in 20,554 deals.
The financial services industry (measured by volume) led the activity chart with 861.775 million shares valued at N8.55bn traded in 11,647 deals, thus contributing 58.66 per cent and 36.28 per cent to the total equity turnover volume and value, respectively.
The consumer goods industry followed with 184.644 million shares worth N5.88bn in 3,953 deals, while the third place was occupied by the services industry, with a turnover of 119.238 billion shares worth N270.08m in 1,043 deals.
Trading in the top three equities, namely FBN Holdings Plc, Guaranty Trust Bank Plc and Zenith Bank Plc (measured by volume), accounted for 456.576 million shares worth N6.940bn in 5,921 deals, contributing 31.08 per cent and 29.47 per cent to the total equity turnover volume and value, respectively.
Twenty-six equities appreciated in price during the week, compared to 34 in the previous week; 39 equities depreciated in price, up from 21 in the previous week, while 98 equities remained unchanged, down from 108 recorded in the preceding week.
A total of 288,112 units valued at N3.99m were traded last week in nine deals, compared with 150,008 valued at N359.83m transacted last week in 14 deals.
A total of 2,785 units valued at N3.116m were traded this week in six deals compared with a total of 5,225 valued at N5.875m transacted last week in three deals.
