Stock Investors Lose N674bn In Four-day Bearish Trading
Investors on the Nigerian Exchange Limited last week lost N674bn after four days of trading.
The market opened for four trading days last week as the Federal Government of Nigeria declared Friday and Monday (today) as Public Holidays to mark the Easter celebration.
The All-Share index and the market capitalisation also depreciated by 2.28 per cent in the week shedding 1238.21 base points and N674bn respectively.
While the ASI started the week at 54, 232,34 points, it closed at 52, 994.13. The market cap which started the week at N29.543 tn closed at N28.869 tn.
Similarly, all other indices finished lower except for NGX Insurance which appreciated by 2.19 per cent while the NGX ASeM and NGX Growth indices closed flat
A total turnover of 1.054 bn shares worth N10.050 bn in 16,155 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.071 bn shares valued at N17.562 bn that exchanged hands last week in 17,917 deals.
The financial services industry (measured by volume) led the activity chart with 630.378m shares valued at N5.438 bn traded in 7,705 deals; thus contributing 59.83 per cent and 54.11 per cent to the total equity turnover volume and value respectively.
The conglomerates industry followed with 248.074m shares worth N394.370m in 812 deals. The third place was the Oil and Gas Industry, with a turnover of 70.921m shares worth N1.345 bn in 1,452 deals.
Trading in the top three stocks; Transnational Corporation Plc, United Bank for Africa Plc and Fidelity Bank Plc, (measured by volume) accounted for 498.527m shares worth N2.118 bn in 1,862 deals, contributing 47.32 per cent and 21.07 per cent to the total equity turnover volume and value respectively.
Sixteen equities appreciated during the week lower than 37 equities in the previous week. Thirty-seven equities depreciated, higher than 30 in the previous week, while 103 equities remained unchanged, higher than ninety 90 equities recorded in the previous week.
Top gainers for the week include Nigerian Aviation Handling Company Plc, which gained 20.99 per cent to close at N9.80. Axa Mansard Insurance Plc gained 15.79 per cent in its share value to close the market at N2.20 and CWG Plc gained 14.94 per cent to end the week’s trading at N1.00.
Linkage Assurance gained 11.63 per cent to close at N0.48, LASACO Assurance Plc gained 9.09 per cent to close at N1.20 while Mutual Benefits Assurance Plc gained 6.25 per cent to close trading at N0.32.
On the losers’ table, Eterna Oil led with a 19.12 per cent depreciation in its share value to close the market at N5.50. Multiverse Mining and Exploration Plc followed with an 18.83 per cent loss in its share value to close at N2.63, Associated Bus Company Plc lost 16.22 per cent to end the week’s trading at N0.31, Royal Exchange Plc’s shares depreciated by 15.38 per cent to close at N0.66, UAC N Plc lost 10.99 per cent to close at N8.50 and Airtel Africa Plc lost 10.00 per cent in it share value per unit to close at N1331.10.
