Nigerian stocks fall further, investors lose N30bn

Nigerian stocks fall further, investors lose N30bn
Nigerian Stock Exchange

The Nigerian stock market fell further last week as the market value of equities fell by N30bn.

The Nigerian Stock Exchange All-Share Index and market capitalisation depreciated by 0.13 per cent to close the week at 38,866.39 and N20.33tn respectively.

All other indices finished lower with the exception of NSE Premium, NSE MERI Growth, NSE Consumer nGoods, NSE Lotus II and NSE Growth Index which appreciated by 0.62 per cent, 0.28 per cent, 1.12 per cent, 1.11 per cent and 0.62 per cent while the NSE ASeM Index closed flat.

It was a four-day trading week as the Federal Government of Nigeria declared April 5 as Public Holiday in commemoration of the Easter Monday.

Meanwhile, a total turnover of 887.04 million shares worth N9.19bn in 17,837 deals were traded last week by investors on the floor of the Exchange, in contrast to a total of 1.445 billion shares valued at N19.04bn that exchanged hands in 17,400 deals in the previous week.

The financial services industry (measured by volume) led the activity chart with 607.22 million shares valued at N6.07bn traded in 10,125 deals, thus contributing 68.46 per cent and 65.99 per cent to the total equity turnover volume and value respectively.

The conglomerates industry followed with 112.318 million shares worth N572.83m in 1,450 deals, while the oil and gas industry came third with a turnover of 57.66 million shares worth N201.45m in 1,107 deals.

Trading in the top three equities, namely Zenith Bank Plc, Access Bank Plc and Guaranty Trust Bank Plc (measured by volume), accounted for 259.25 million shares worth N4.82bn in 4,970 deals, contributing 29.23 per cent and 52.41 per cent to the total equity turnover volume and value respectively.

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