Stock Investors Lose N1.37trn In One Month
Investors in the Nigerian stock market recorded a total loss of N1.37tn in February as market capitalisation tumbled below N21tn amid profit-taking.
Investors had gained over N1.13tn in January as the market capitalisation closed at N22.19tn from N21.06tn at the start of the month.
The Nigerian Stock Exchange All-Share Index closed at 39,799.89 basis points in February from 42,412.66bps at the end of January.
The market capitalisation of equities tumbled to N20.82tn on Friday from N22.19tn at the end of January.
The ASI and the market capitalisation declined by 0.96 per cent last week.
All other indices finished lower with the exception of NSE Banking, NSE AFR Bank Value, NSE MERI Growth and NSE Oil/Gas Indices which rose by 0.69 percent, 1.34 percent, 0.66 per cent and 0.97 per cent while the NSE ASeM and NSE Growth Indices closed flat.
A total turnover of 1.93 billion shares worth N20.66bn in 24,687 deals were traded last week by investors on the floor of the Exchange, compared with 1.54 billion shares valued at N18.24bn that exchanged hands in 22,752 deals the previous week.
The financial services industry (measured by volume) led the activity chart with 1.45 billion shares valued at N15.07bn traded in 14,236 deals, thus contributing 75.11 per cent and 72.96 per cent to the total equity turnover volume and value respectively.
The conglomerates industry followed with 154.91 million shares worth N179.67m in 798 deals, while the consumer goods industry came third with a turnover of 111.78 million shares worth N2.27bn in 3,865 deals.
Trading in the top three equities, namely Wema Bank Plc, Zenith Bank Plc and First Bank Holding Plc (measured by volume), accounted for 782.17 million shares worth N8.91bn in 4,624 deals, contributing 40.52 per cent and 43.15 per cent to the total equity turnover volume and value respectively.
Nineteen equities appreciated in price last week, down from 39 in the previous week; 44 equities depreciated in price, compared with 33 in the previous week, while 99 equities remained unchanged, compared with 90 in the previous week.