1 month ago
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The Nigerian equity market suffered a N815bn loss last week, driven mainly by bearish trading activities on Monday and Thursday.
The NGX All-Share Index dipped 1.16 per cent and market capitalisation was down 0.004 per cent, closing the week at 95,973.45 points and N55.13tn, respectively.
During the week, investors traded 5.64 billion shares worth N33.05bn in 42,006 deals, compared to the previous week’s transaction of 2.03 billion shares valued at N42.155bn in 45,157 deals.
The financial services industry led the activity chart by volume, with 4.977 billion shares worth N17.877bn traded in 19,064 deals, accounting for 88.22 per cent and 54.09 per cent of the total equity turnover volume and value, respectively.
The oil and gas industry followed with 179.469 million shares worth N8.954bn in 5,780 deals, while the services industry ranked third with a turnover of 123.505 million shares valued at N525.417 million in 2,436 deals.
Standard Insurance, Jaiz Bank and Guaranty Trust Holding Company accounted for 3.951 billion shares worth N7.947bn in 1,839 deals, representing 70.04 per cent and 24.04 per cent of the total equity turnover volume and value, respectively.
Most indices closed lower, except for the Main Board, Banking, Insurance, NGX AFR Bank Value, AFR Div Yield, MERI Growth, MERI Value, and Oil & Gas, which appreciated by 0.98 per cent, 0.17 per cent, 0.37 per cent, 1.90 per cent, 0.47 per cent, 6.31 per cent, 3.94 per cent, 0.38 per cent, and 3.54 per cent respectively.
The Alternative Securities Market Index index remained unchanged.
In terms of market performance, 43 equities appreciated, higher than the 39 recorded in the previous week, while 34 equities declined in price, lower than the 46 recorded in the previous week and 74 equities remained unchanged, compared to 66 in the previous week.
The local bourse has declined for two consecutive weeks, as sell-off pressure persists.
