Market dips by 2% as investors lose N212bn
- UBA, GTBank, Fidelity top trades for the week
The All-Share Index and Market Capitalization of the Nigerian Stock Exchange (NSE) this week depreciated by 2.09 per cent even as investors recorded a huge loss of N212 billion to close the week at 27,425.86 basis points and N9.419 trillion from the opening value of 28,042.99 basis points and N9.631 trillion respectively. Similarly, all other indices finished lower during the week, with the exception of the NSE ASeM Index which closed flat.
Trading in the top-three equities, United Bank for Africa Plc, Guaranty Trust Bank Plc and Fidelity Bank Plc accounted for 394.778 million shares worth N3.857 billion in 2,866 deals, traded. The three of them contributed 33.31 per cent and 29.59 per cent to the total equity turnover volume and value respectively for the week on the Exchange.
A total of 22 equities appreciated in price during the week, lower than 35 equities of the previous week and also, 40 equities depreciated in price, higher than 31 equities of the previous week, while 118 equities remained unchanged higher than 114 equities recorded in the preceding week.
The market witnessed a turnover of 1.185 billion shares worth N13.033 billion in 18,548 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.867 billion shares valued at N16.330 billion that exchanged hands last week in 21,584 deals.
The Financial Services Industry (measured by volume) led the activity chart with 882.909 million shares valued at N6.532 billion traded in 10,186 deals; thus contributing 74.49 per cent and 50.12 per cent to the total equity turnover volume and value respectively.
The Conglomerates Industry followed with 89.432 million shares worth N159.459 million in 890 deals. The third place was occupied by the Consumer Goods Industry with a turnover of 75.383 million shares worth N2.120 billion in 3,635 deals.
Also traded during the week were a total of 11,383 units of Exchange Traded Products (ETPs) valued at N128,168.98 executed in 48 deals, compared with a total of 57,510 units valued at N439,941.91 transacted last week in 32 deals.
A total of 340 units of Federal Government Bonds valued at N370,066.80 were traded in 1 deal compared to a total of 5,749 units of Federal Government Bonds valued at N5.513 million transacted last week in 7 deals.
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