Stock market dips as investors lose N84bn in one week
Nigerian Exchange Group NGX
Stock market dips as investors lose N84bn in one week
Nike Popoola
Stock investors lost N84bn at the end trading this week on Friday, September 6, 2024.
The NGX All-Share Index and Market Capitalization depreciated by 0.15% to close the week at 96,433.53 and N55.394 trillion respectively.
Similarly, all other indices finished lower with the exception of NGX Oil and Gas, which appreciated 1.52%, while the NGX ASeM and NGX Sovereign Bond indices closed flat.
According to the NGX, 36 equities appreciated in price during the week lower than fifty-six (56) equities in the previous week.
Forty-six (46) equities depreciated in price higher than twenty-six (26) in the previous week, while sixty-nine (69) equities remained unchanged, same as sixty-nine (69) recorded in the previous week.
The NGX market report obtained by Daily Economy showed a total turnover of 2.141 billion shares worth N51.217 billion in 55,603 deals was traded this
week by investors on the floor of the Exchange, in contrast to a total of 2.821 billion shares valued at N53.048 billion that exchanged hands last week in 50,488 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.229 billion shares valued at N19.976 billion traded in 20,701 deals; thus contributing 57.40% and 39.00% to the total equity turnover volume and value respectively.
The Oil and Gas Industry followed with 262.484 million shares worth N17.996 billion in 14,275 deals.
The third place was the Services Industry, with a turnover of 155.587 million shares worth N532.941 million in 3,558 deals.
Trading in the top three equities namely Access Holdings Plc, Oando Plc and Zenith Bank Plc (measured by volume) accounted for 517.336 million shares worth N24.454 billion in 15,502 deals, contributing 24.16% and 47.75% to the total equity turnover volume and value respectively.
