Stock Investors Lose N189bn In One Week

Investors lost N189bn at the end of trading on the floor of the Nigerian Exchange Limited last week.

The NGX All-Share Index and market capitalisation of equities listed on the NGX depreciated by 0.7 per cent to close at 49,695.12 and N26.805tn last week.

All other indices finished lower with the exception of NGX Insurance, NGX MERI Value, and NGX Consumer Goods Indices which appreciated by 1.04 per cent, 0.87 per cent and 0.72 per cent while, the NGX ASeM index closed flat.

According to the NGX, 22 equities appreciated in price during the week, lower than 43 equities in the previous week.

Thirty-six equities depreciated in price higher than 21 in the previous week, while 98 equities remained unchanged higher than 92 equities recorded in the previous week.

The NGX weekly market report showed a total turnover of 949.819 million shares worth N9.329bn in 18,525 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 1.195 billion shares valued at N12.924bn that exchanged hands previous week in 19,305 deals.

The Financial Services Industry (measured by volume) led the activity chart with 735.300 million shares valued at N4.133bn traded in 10,186 deals; thus contributing 77.41 per cent and 44.30 per cent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 69.775 million shares worth N191.041m in 570 deals. The third place was the ICT Industry, with a turnover of 44.439 million shares worth N2.875bn in 1,744 deals.

Trading in the top three equities namely Sterling Bank Plc, United Bank for Africa Plc and Transnational Corporation Plc (measured by volume) accounted for 472.701 million shares worth N1.164bn in 2,333 deals, contributing 49.77 per cent and 12.48 per cent to the total equity turnover volume and value respectively.