Equities market sheds N21bn in one week

Equities market sheds N21bn in one week

Nike Popoola

Stock market investors lost N21bn at the end of trading on the floor of the Nigerian Exchange Limited this week.

The NGX All-Share Index and Market Capitalization depreciated by 0.04% to close the week at 100,022.03 and N56.581 trillion respectively.

All other indices finished higher with the exception of NGX 30, NGX Premium, NGX MERI Value, NGX Consumer Goods, NGX Lotus II, and NGX Pension Broad which depreciated by 0.27%, 0.52%, 0.01% 0.69%, 0.56% and 0.07% respectively while the NGX ASeM and NGX Sovereign Bond indices closed flat.

According to the NGX, 37 equities appreciated in price during the week lower than forty-eight (48) equities in the previous week. Forty-five (45) equities depreciated in price higher than thirty-four (34) in the previous week.

Seventy-two (72) equities remained unchanged, same as seventy- two (72) recorded in the previous week.

The NGX market report obtained by Daily Economy showed a total turnover of 2.259 billion shares worth N31.166bn in 42,851 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.651 billion shares valued at N49.976n that exchanged hands last week in 41,610 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.801 billion shares valued at N22.030bn traded in 23,112 deals; thus contributing 79.75% and 70.69% to the total equity turnover volume and value respectively.

The Oil and Gas Industry followed with 121.001 million shares worth N1.771 billion in 3,124 deals. The third place was the Conglomerates Industry, with a turnover of 90.713 million shares worth N1.081bn in 2,277 deals.

Trading in the top three equities namely Fidelity Bank Plc, Universal Insurance Plc and Guaranty Trust Holding Company Plc (measured by volume) accounted for 909.821 million shares worth N12.057bn in 4,798 deals, contributing 40.28% and 38.69% to the total equity turnover volume and value respectively.