Stock Market Halts Weekly Gains, Investors Lose N470bn

Activities on the floor of the Nigerian Stock Exchange closed on a negative note last week as the All-Share Index and market capitalisation depreciated by 2.57 per cent to close the week at 34,136.82 and N17.84tn respectively.

Similarly, all other indices finished lower with the exception of NSE Insurance Index which appreciated by 0.51 per cent while the NSE ASeM Index closed flat.

A total turnover of 11.40 billion shares worth N35.89bn in 39,265 deals were traded last week by investors on the floor of the Exchange, in contrast to 4.51 billionn shares valued at N58.73bn that exchanged hands the previous week in 47,140 deals.

The construction/real estate industry (measured by volume) led the activity chart with 8.53 billion shares valued at N6.05bn traded in 438 deals, thus contributing 74.82 per cent and 16.87 per cent to the total equity turnover volume and value respectively.

The financial services industry followed with 1.99 billion shares worth N19.93bn in 21,725 deals. The third place was occupied by the conglomerates industry, with a turnover of 423.70 million shares worth N526.69m in 1,962 deals.

Trading in the top three equities, namely UAC-Property Development Company Plc, Transnational Corporation of Nigeria Plc and Jaiz Bank Plc (measured by volume), accounted for 9.259 billion shares worth N6.64bn in 1,958 deals, contributing 81.22 per cent and 18.50 per cent to the total equity turnover volume and value respectively.

Twenty-one equities appreciated in price during the week, lower than 69 equities in the previous week; 55 equities depreciated in price, higher than 12 equities in the previous week, while 85 equities remained unchanged, higher than 80 recorded in the previous week.

A total of 21,455 units of ETPs valued at N174.67m were traded last week in 15 deals compared with a total of 986,941units valued at N4.69bn transacted the previous week in 62 deals.

Source: Punch