Equities market sheds N103bn in one week
Nigerian Exchange Group NGX
Equities market sheds N103bn in one week
Nike Popoola
Stock market investors lost N103bn at the end of trading on the floor of the Nigerian Exchange Limited this week.
The market opened for three trading days this week as the Federal Government of Nigeria declared Monday June 17 and Tuesday June 18, 2024, as Public Holidays to commemorate 2024 Eid el Kabir celebrations.
The NGX All-Share Index and Market Capitalization depreciated by 0.18 per cent to close the week at 99,743.05 and N56.424tn respectively.
Similarly, all other indices finished lower with the exception of NGX Main Board, NGX Pension, NGX AFR Bank Value, NGX MERI Growth, NGX Consumer Goods, NGX Oil and Gas, NGX Lotus II, NGX Industrial Goods, NGX Growth and NGX Sovereign Bond which appreciated by 0.18%, 0.20%, 1.12%, 1.07%, 0.29%, 0.21%, 0.58%, 0.10%, 0.17% and 9.80% respectively while the NGX ASeM index closed flat.
According to the NGX, 53 equities appreciated in price during the week higher than 51 equities in the previous week.
Twenty-five equities depreciated in price higher than 24 in the previous week, while 76 equities remained unchanged, lower than 79 recorded in the previous week.
The NGX weekly market report obtained by Daily Economy showed a total turnover 3.301 billion shares worth N53.157bn in 27,536 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.633 billion shares valued at N43.652bn that exchanged hands last week in 33,709 deals.
The Financial Services Industry (measured by volume) led the activity chart with 3.040 billion shares valued at N46.362bn traded in 13,695 deals; thus contributing 92.12% and 87.22% to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 74.051 million shares worth N867.880m in 1,906 deals. The third place was the ICT Industry, with a turnover of 44.909 million shares worth N1.412bn in 2,136 deals.
Trading in the top three equities namely Fidelity Bank Plc, FBN Holdings Plc and Veritas Kapital Assurance Plc (measured by volume) accounted for 2.469 billion shares worth N37.405bn in 3,006 deals, contributing 74.80% and 70.37% to the total equity turnover volume and value respectively.
