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Investors lose fresh N185bn as bears rule local bourse



Equities Market shed N599BN, Highest Daily Loss since February 19

Trading activities closed on a negative note as investors lost N185 billion at the end of trading on the floor of the Nigerian Exchange Limited last week.

Investors had earlier lost N172 billion at the end of trading a week earlier, after falling from N25.438 trillion to N25.311 trillion.

The market capitalisation of equities listed on the NGX depreciated by 0.26 per cent to close at N25.253 trillion last week.

The NGX All-Share Index also declined by 0.23 per cent to close at 46,842.86 basis points

Similarly, all other indices finished lower with the exception of NGX Premium, NGX Lotus II and NGX Sovereign bond indices which appreciated by 1.31 per cent, 1.38 per cent and 0.56 per cent respectively, while NGX Asem and NGX Growth indices closed flat.

According to the NGX, 20 equities appreciated in price during the week, lower than 24 equities in the previous week.

Fifty equities depreciated in price, higher than 44 equities in the previous week, while 86 equities remained unchanged lower than 88 equities recorded in the previous week.

The NGX weekly market report showed a total turnover of 1.289 billion shares worth N13.546 billion in 22,118 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 1.176 billion shares valued at N16.601 billion that exchanged hands last week in 21,076 deals.

The financial services industry (measured by volume) led the activity chart with 851.598 million shares valued at N7.516 billion traded in 11,930 deals; thus contributing 66.07 per cent and 55.49 per cent to the total equity turnover volume and value respectively.

The conglomerates’ industry followed with 174.588 million shares worth N569.028m in 1,095 deals while the third place was the ICT Industry, with a turnover of 77.571 million shares worth N2.249 billion in 1,458 deals.

Trading in the top three equities namely Fidelity Bank Plc, Transnational Corporation Of Nigeria Plc, and Access Holdings Plc (measured by volume) accounted for 426.566 million shares worth N1.777 billion in 3,307 deals, contributing 33.10 per cent and 13.12 per cent to the total equity turnover volume and value respectively.

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