Stock market: Investors lose N21bn as transaction value sheds 15%

All-Share Index, Sell-offs, Stock market investors

The value of transactions on the Nigerian Exchange Limited (NGX) dropped by 15 per cent during the week, resulting in a loss of N21 billion for investors compared to the previous week.

A total turnover of 2.259 billion shares worth N31.166 billion in 42,851 deals was traded by investors during the week.

This contrasted with the previous week’s turnover of 2.651 billion shares valued at N49.976 billion in 41,610 deals.

The Financial Services Industry led the activity chart by volume, with 1.801 billion shares valued at N22.03 billion traded in 23,112 deals.

This contributed 79.75 and 70.69 per cent to the total equity turnover volume and value respectively.

The oil and gas industry followed with 121.001 million shares worth N1.771 billion in 3,124 deals.

The third place was the conglomerates industry, with a turnover of 90.713 million shares worth N1.081 billion in 2,277 deals.

Trading in the top three equities – Fidelity Bank Plc, Universal Insurance Plc, and Guaranty Trust Holding Company Plc – measured by volume accounted for 909.821 million shares worth N12.057 billion in 4,798 deals.

Investors lose N134bn at stock market

This contributed 40.28 and 38.69 per cent to the total equity turnover volume and value, respectively.

The NGX All-Share Index and market capitalisation depreciated by 0.04 per cent to close the week at 100,022.03 and N56.581 trillion respectively, compared to 100,057.49 and N56.602 trillion recorded in the previous week.

This led to a loss of N21 billion week-on-week for investors.

All other indices finished higher except for NGX 30, NGX Premium, NGX MERI Value, NGX Consumer Goods, NGX Lotus II, and NGX Pension Broad which depreciated by 0.27, 0.52, 0.01, 0.69, 0.56 and 0.07 per cent, respectively.

Meanwhile, the NGX ASeM and NGX Sovereign Bond indices closed flat.

Also, 37 equities appreciated in price during the week lower than 48 equities in the previous week.

45 equities depreciated in price, higher than 34 in the previous week, while 72 equities remained unchanged, the same as 72 recorded in the previous week.

Veritas Kapital Assurance Plc led the gainers’ chart by 25 per cent to close at N1.15 per share, while UPDC Real Estate Investment Trust led the losers’ chart by 17.43 per cent to close at N4.50 per share for the week.

The Star