Stock Market Posts N370bn Weekly Loss As Investors Take Profit
The Nigerian’s stock market shed N370bn after five straight trading sessions of losses last week amid profit-taking.
The Nigerian Stock Exchange All-Share Index and market capitalisation depreciated by 1.66 per cent to close the week at 41,709.09 basis points and N21.82tn respectively.
All other indices finished lower, with the exception of NSE Growth Index which appreciated by 3.26 per cent, while the NSE ASeM Index closed flat.
A total turnover of 2.77 billion shares worth N29.69bn in 31,380 deals were traded by investors on the floor of the exchange last week, compared with 2.57 billion shares valued at N27.88bn that exchanged in 31,466 deals in the previous week.
The financial services industry (measured by volume) led the activity chart with 1.924 billion shares valued at N20.34bn traded in 15,160 deals, thus contributing 69.54 per cent and 68.53 per cent to the total equity turnover volume and value respectively.
The conglomerates industry followed with 264.79 million shares worth N523.52m in 1,528 deals, while the third place was occupied by the consumer goods industry, with a turnover of 197.41 million shares worth N3.37bn in 6,240 deals.
Trading in the top three equities, namely Union Bank of Nigeria Plc, First Bank Holding Plc and Transnational Corporation of Nigeria (measured by volume), accounted for 859.87 million shares worth N4.25bn in 2,459 deals, contributing 31.08 per cent and 14.32 per cent to the total equity turnover volume and value respectively.
Twenty-two equities appreciated in price during the week, down from 41 in the previous week; 60 equities depreciated in price, up from 34 in the previous week, while 80 equities remained unchanged, compared with 86 in the previous week.
A total of 238,451 units of Exchange Traded Products valued at N1.79bn were traded last week in 38 deals compared with a total of 262,345 units valued at N2.28bn transacted in 61 deals in the previous week.
A total of 8,002 units of bonds valued at N9.17m were traded last week in seven deals, compared with a total of 20,510 units valued at N22.19m transacted in 17 deals in the previous week.
