NSE on free fall, dip by 2.42% as investors lose N218bn

Putting it mildly, this is not the best of time for equities investors on the Nigerian Stock Exchange (NSE) as the value of their investments has continued to depreciate at alarming rate.

The market All-Share Index (NSE ASI) and the Market Capitalization which opened the week at 26,170.88 and  ₦9.009 trillion closed the week at 25,537.54 and N8.791 trillion respectively. The market recorded 2.42 per cent decline as investors made a huge loss of N218 billion in the week.

Similarly, all other Indices finished lower during the week with the exception of the NSE Insurance Index that appreciated by 0.49 per cent while the NSE ASeM Index closed flat.

A turnover of 823.547 million shares worth N5.444 billion in 11,634 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 2.847 billion shares valued at N7.420 billion that exchanged hands last week in 16,065 deals.

The Financial Services Industry (measured by volume) led the activity chart with 616.999 million shares valued at N2.667 billion traded in 6,142 deals; thus contributing 74.92 per cent and 49.00 per cent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 47.741 million shares worth N43.735 million in 510 deals. The third place was occupied by the Consumer Goods Industry with a turnover of 42.674 million shares worth N1.735 billion in 2,112 deals.

Trading in the top-three equities namely – Standard Alliance Insurance Plc, Diamond Bank Plc and FBN Holdings Plc (measured by volume) accounted for 219.392 million shares worth N288.220 million in 1,026 deals, contributing 26.64 per cent and 5.29 per cent to the total equity turnover volume and value respectively.

Also traded during the week were a total of 60 units of Exchange Traded Products (ETPs) valued at N537.00 executed in 11 deals, compared with a total of 5,080 units valued at N62,550.75 transacted last week in 17 deals.

A total of 6,871 units of Federal Government Bonds valued at N5.990 million were traded in 8 deals compared to a total of 73,694 units of Federal Government Bonds valued at N80.177 million transacted last week in 9 deals.

Ten (10) equities appreciated in price during the week, lower than eighteen (18) equities of the previous week. Forty-eight (48) equities depreciated in price, higher than thirty-six (36) equities of the previous week, while one hundred and twenty-three (123) equities remained unchanged lower than one hundred and twenty-seven (127) equities recorded in the preceding week.