Stock investors lose N114bn in one week

Stock investors lose N114bn in one week

Investors lost N114bn at the end of trading on the floor of the Nigerian Exchange Limited last week.

The NGX All-Share Index and market capitalisation of equities listed on the NGX depreciated by 0.45 per cent to close at 46,631.46 and N25.139tn last week.

All other indices finished higher with the exception of NGX 30, NGX Insurance, NGX Consumer Goods, NGX Lotus II, NGX Industrial Goods, and NGX Sovereign bond indices, which depreciated by 0.43 per cent, 0.21 per cent, 0.35 per cent, 1.40 per cent, 0.42 per cent and 0.05 per cent respectively, while NGX Asem, and NGX Growth indices closed flat.

According to the NGX, 33 equities appreciated in price during the week, higher than 20 equities in the previous week.

Thirty-one equities depreciated in price, lower than 50 equities in the previous week, while 92 equities remained unchanged higher than 86 equities recorded in the previous week.

The NGX weekly market report showed a total turnover of 1.137 billion shares worth N10.812bn in 23,471 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 1.289 billion shares valued at N13.546bn that exchanged hands last week in 22,118 deals.

The financial services industry (measured by volume) led the activity chart with 798.246 million shares valued at N6.732bn traded in 12,904 deals; thus contributing 70.23 per cent and 62.26 per cent to the total equity turnover volume and value respectively.

The conglomerates industry followed with 155.154 million shares worth N228.975m in 917 deals. The third place was the Consumer Goods Industry, with a turnover of 45.341 million shares worth N1.013bn in 2,819 deals.

Trading in the top three equities namely Fidelity Bank Plc, Transnational Corporation of Nigeria Plc, and Zenith Bank Plc (measured by volume) accounted for 454.800 million shares worth N2.551bn in 4,587 deals, contributing 40.01 per cent and 23.60 per cent to the total equity turnover volume and value respectively.

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