Stock investors lose N172bn as 44 firms suffer decline

Agency Report
Agency Report
stock market

Investors lost N172bn at the end of trading on the floor of the Nigerian Exchange Limited.

The market capitalisation of equities listed on the NGX depreciated by 0.67 per cent to close at N25.311tn at the end of the week.

The NGX All-Share Index also declined by 0.67 per cent to close at 46,964.23 basis points.

Similarly, all other indices finished lower with the exception of NGX AFR Div Yield and NGX Meri Growth indices, which appreciated by 1.81 per cent and 0.01 per cent respectively, while NGX ASeM and NGX Growth indices closed flat.

According to the NGX, 24 equities appreciated in price during the week, higher than 21 equities in the previous week.

Forty-four equities depreciated in price, lower than 45 equities in the previous week, while 88 equities remained unchanged, lower than 90 equities recorded in the previous week.

The NGX weekly market report showed that a total turnover of 1.176 billion shares worth N16.601bn were traded in 21,076 deals by investors on the floor of the Exchange.

This was in contrast to a total of 2.449 billion shares valued at N20.653bn that exchanged hands the previous week in 20,764 deals.

The financial services industry (measured by volume) led the activity chart with 954.472 million shares valued at N10.217bn, and traded in 12,700 deals; thus contributing 81.14 per cent and 61.55 per cent to the total equity turnover volume and value respectively.

The consumer goods industry followed with 63.728 million shares worth N3.439bn in 2,720 deals.

The third place was the conglomerate’s industry, with a turnover of 53.313 million shares worth N258.568 million in 711 deals.

Trading in the top three equities namely Fidelity Bank Plc, United Bank For Africa Plc, and Guaranty Trust Holding Company Plc (measured by volume) accounted for 456.971 million shares worth N4.469bn in 4,982 deals, contributing 38.85 per cent and 26.92 per cent to the total equity turnover volume and value respectively.

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