Market capitalisation dips as stocks shed N3bn
Nigerian Exchange Group NGX
Market capitalisation dips as stocks shed N3bn
Nike Popoola
Stock market investors recorded one-week loss of N3bn at the end of trading on the floor of the Nigerian Exchange Limited on Friday, August 23.
The NGX All-Share Index and Market Capitalization depreciated by 1.162% and 0.004% to close the week at 95,973.45 and N55.129 trillion respectively.
Similarly, all other indices finished lower with the exception of NGX Main Board, NGX CG, NGX Banking, NGX Insurance, NGX AFR Bank Value, NGX AFR Div Yield, NGX MERI Growth, NGX MERI Value and NGX Oil & Gas which appreciated 0.98%, 0.17%, 0.37%, 1.90%, 0.47%, 6.31%, 3.94%, 0.38% and 3.54% respectively, while the NGX ASeM index closed flat.
According to the NGX, 43 equities appreciated in price during the week higher than thirty-nine (39) equities in the previous week.
Thirty-four (34) equities depreciated in price lower than forty-six (46) in the previous week, while seventy-four (74) equities remained unchanged, higher than sixty-six (66) recorded in the previous week.
The NGX market report obtained by Dailyeconomy showed a total turnover of 5.641 billion shares worth N33.052 billion in 42,006 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 2.033 billion shares valued at N42.155 billion that exchanged hands last week in 45,157 deals.
The Financial Services Industry (measured by volume) led the activity chart with 4.977 billion shares valued at N17.877 billion traded in 19,064 deals; thus contributing 88.22% and 54.09% to the total equity turnover volume and value respectively.
The Oil and Gas Industry followed with 179.469 million shares worth N8.954 billion in 5,780deals. The third place was the Services Industry, with a turnover of 123.505 million shares worth N525.417 million in 2,436 deals.
Trading in the top three equities namely Standard Insurance Plc, Jaiz Bank Plc and Guaranty Trust Holdings Company Plc (measured by volume) accounted for 3.951 billion shares worth N7,947 billion in 1,839 deals, contributing 70.04% and 24.04% to the total equity turnover volume and value respectively
