Equity Market: Investors Lose N365bn in One Week
The equity market continued its losing streak for the second week as investors lost N365 billion on the trading floor of the Nigerian Exchange (NGX) last week.
Last week, the market capitalisation decreased to N66.352 trillion from the N66.717 trillion recorded the previous week.
The All-Share Index (ASI) depreciated by 0.55% to close the week at 105. 955.13 points from the 106,538.60 points recorded the previous week.
The market began the week on Monday on a bullish note as investors gained N52.17 billion at the end of the trading session, but closed with a loss on Tuesday as investors lost N284.40 billion.
On Wednesday, investors lost N48.45bn and gained N81.76 billion on Thursday.
The market closed the week on Friday with a loss as investors lost N166.43 billion.
During the week, a total turnover of 3.281 billion shares worth N63.517 billion in 60,782 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.818 billion shares valued at N47.226 billion that exchanged hands last week in 64,222 deals.
The Financial Services Industry (measured by volume) led the activity chart with 2.302 billion shares valued at N25.014 billion traded in 27,625 deals; thus contributing 70.17% and 39.38% to the total equity turnover volume and value respectively.
The Consumer Goods industry followed with 421.846 million shares worth N3.796 billion in 6,149 deals.
In third place was the Services Industry, with a turnover of 228.075 million shares worth N800.274 million in 4,741 deals.
Trading in the top three equities namely Sovereign Trust Insurance Plc, Champion Breweries Plc and Jaiz Bank Plc (measured by volume) accounted for 1.621 billion shares worth N3.244 billion in 1,528 deals, contributing 49.42% and 5.11% to the total equity turnover volume and value respectively.
Thirty-eight (38) equities appreciated in price during the week, higher than thirty (30) equities in the previous week. Forty-six (46) equities depreciated in price, lower than fifty-eight (58) in the previous week, while sixty-six (66) equities remained unchanged, higher than sixty-two (62) recorded in the previous week.
Livestock Feeds Plc recorded the biggest share price increase in percentage gaining 22.16% followed by Caverton Offshore Support Grp which increased its share price by 15.38% in the process.,
