Stock Investors Lost N395bn In March
Investors in the Nigerian stock market lost N395bn in March as the market capitalisation of equities declined further.
The Nigerian Stock Exchange All-Share Index closed the month at 39,045.13 basis points from 39,799.89 on Feb. 26.
The market capitalisation fell to N20.43tn at the end of March from N2.82tn on Feb. 26.
The ASI and market capitalisation depreciated by 0.76 per cent to close this week at 38,916.74 and N20.36tn respectively.
All other indices finished lower with the exception of NSE Mainboard, NSE Pension, NSE Insurance, NSE AFR Div Yield, NSE MERI Value and NSE Consumer Goods Index which appreciated by 0.06 per cent, 0.78 per cent, 2.82 per cent, 2.64 per cent, 1.82 per cent and 1.93 per cent while the NSE ASeM Index closed flat.
The market opened for four trading days last week as the Federal Government of Nigeria declared Friday (Good Friday) a public holiday to commemorate the 2021 Easter celebrations.
A total turnover of 1.45 billion shares worth N19.04bn in 17,400 deals were traded last week by investors on the floor of the exchange, compared to a total of 1.530 billion shares valued at N21.31bn that exchanged hands in 20,016 deals in the previous week.
The financial services industry (measured by volume) led the activity chart with 1.03 billion shares valued at N13.37bn traded in 9,179 deals, thus contributing 71.51 per cent and 70.22 per cent to the total equity turnover volume and value respectively.
The conglomerates industry followed with 131.15 million shares worth N578.39m in 811 deals, while the consumer goods industry came third with a turnover of 92.94 million shares worth N1.75bn in 2,892 deals.
Trading in the top three equities, namely Guaranty Trust Bank Plc, Union Bank Nigeria Plc and Wema Bank Plc (measured by volume), accounted for 670.35 million shares worth N10.33bn in 1,990 deals, contributing 46.39 per cent and 54.26 per cent to the total equity turnover volume and value respectively.
Forty-two equities appreciated in price during the week, compared to 48 equities in the previous week; 22 equities depreciated in price, compared to 18 in the previous week, while 98 equities remained unchanged, compared to 96 equities in the previous week.
A total of 108,271 units of Exchange Traded Products valued at N445.29m were traded last week in 16 deals, compared with a total of 25,905 units valued at N208.95m transacted in seven deals in the previous week.
A total of 50,358 units of bonds valued at N55.29m were traded last week in 14 deals, compared with a total of 93,124 units valued at N97.45m transacted in 47 deals in the previous week.