Stock market extends weekly decline, investors lose N20bn

Trading activities on the floor of Nigerian Stock Exchange closed on a negative note last week as the All-Share Index depreciated by 0.08 per cent to 25,572.57 basis points.

The market capitalisation appreciated by N20bn to close the week at N13.37tn respectively.

All other indices finished lower, with the exception of NSE Main Board, NSE Pension, NSE Insurance, NSE Meri Growth, NSE Consumer Goods, NSE Lotus II and NSE Industrial Goods Index, which appreciated by 0.13 per cent, 0.06 per cent, 0.01 per cent, 0.17 per cent, 0.13 per cent, 0.19 per cent and 0.50 per cent respectively. The NSE ASeM Index closed flat.

A total turnover of 1.14 billion shares worth N12.69bn in 17,109 deals were traded last week by investors on the floor of the Exchange, in contrast to a total of 1.23 billion shares valued at N10.84bn that exchanged hands the previous  week in 19,529 deals.

The financial services industry (measured by volume) led the activity chart with 870.30 million shares valued at N7.86m traded in 9,43 deals, thus contributing 76.43 per cent and 61.95 per cent to the total equity turnover volume and value respectively.

The industrial goods industry followed with 62.69 million shares worth N1.16bn in 1,557 deals. The third place was occupied by the ICT industry, with a turnover of 50.859 million shares worth N2.55bn in 619 deals.

Trading in the top three equities, namely FBN Holdings Plc, Guaranty Trust Bank Plc and Access Bank Plc, (measured by volume) accounted for 353.05 million shares worth N4.02bn in 3,095 deals, contributing 31 per cent and 31.66 per cent to the total equity turnover volume and value respectively.

Thirty-two equities appreciated in price during the week, higher than 23 in the previous week; 31 equities depreciated in price, compared with 38 in the previous week, while 100 equities remained unchanged, down from 102 equities in the previous week.

A total of 143,690 units valued at N1.25bn were traded last week in 19 deals, compared with a total of 54,457 units valued at N283.94m transacted the previous week in 18 deals.

A total of 18,803 units valued at N19.58m were traded last week in eight deals, compared with a total of 7,125 units valued at N7.76m transacted the previous week in 15 deals.

Source: Punchng, September 21, 2020