Stock market sheds N366bn as 55 equities close lower on NGX
NGX
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Stock market investors lost ₦366 billion at the close of trading on Friday.
The NGX All-Share Index and market capitalisation declined by 0.25% and 0.23% respectively to close the week at 249,712.37 points and ₦160.077 trillion. This compares with ₦160.443 trillion capitalisation recorded in the previous week.
Similarly, all other indices finished lower with the exception of NGX CG, NGX Premium, NGX Banking, NGX Pension, NGX AFR Bank Value, NGX MERI Growth, NGX Oil & Gas, NGX Growth and NGX Commodity which appreciated by 0.24%, 0.33%, 1.11%, 0.19%, 1.47%, 0.33%, 0.07%, 1.57% and 0.02% respectively while the NGX Sovereign Bond closed flat.
Figures obtained by Daily Economy from the NGX showed that a total turnover of 3.875 billion shares worth ₦161.757 billion in 334,745 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 7.772 billion shares valued at ₦374.040 billion that exchanged hands last week in 402,945 deals.
The Financial Services Industry (measured by volume) led the activity chart with 2.410 billion shares valued at ₦69.712 billion traded in 126,919 deals: thus contributing 62.19% and 43.10% to the total equity turnover volume and value respectively.
The Services Industry followed with 409.306 million shares worth ₦5.409 billion in 25,908 deals. Third place was the Oil & Gas Industry, with a turnover of 294.859 million shares worth ₦31.496 billion in 26,738 deals.
Trading in the top three equities, namely Sterling Financial Holdings Company Plc, Fidelity Bank Plc and Access Holdings Plc (measured by volume), accounted for 1.092 billion shares worth ₦19.527 billion in 21,683 deals, contributing 28.18% and 12.07% to the total equity turnover volume and value respectively.
Thirty-eight (38) equities appreciated in price during the week, lower than seventy-four (74) equities in the previous week. Fifty-five (55) equities depreciated in price, higher than twenty-four (24) equities in the previous week, while fifty-three (53) equities remained unchanged, higher than forty-eight (48) recorded in the previous week.
