Stock market investors lose N356bn in one week
Nigerian Exchange Group NGX
Nike Popoola
Stock market investors lost N365bn at the close of trading on Friday, March 14.
The NGX All-Share Index and Market Capitalization depreciated by 0.55% to close the week at 105,955.13 and N66.352 trillion respectively.
Similarly, all other indices finished lower with the exception of NGX Insurance, NGX AseM, NGX MERI Growth, NGX Consumer Goods and NGX Commodity which appreciated by 0.89%, 0.04%, 0.89%, 0.03% and 0.02% 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.
According to figures obtained by Dailyeconomy from the NGX, 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.
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.
