Nigeria: Stocks Lose N190bn, Market Cap Falls Below N13tn

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The nation’s stock market recorded a loss of N190bn last week as the market capitalisation of equities fell below the N13tn mark.

The Nigerian Stock Exchange All-Share Index depreciated by 0.99 per cent to close at 24,826.75 basis points from 25,182.67bps the previous week, while the market capitalisation fell to N12.95tn from N13.14tn.

All other indices finished lower with the exception of NSE-Main Board, NSE MERI Growth, NSE Consumer Goods, NSE Lotus II and NSE Industrial Goods Indices, which appreciated by 1.00 per cent, 1.42 per cent, 1.81 per cent, 1.01 per cent and 2.24 per cent respectively, while NSE ASeM closed flat.

A total turnover of 1.050 billion shares worth N10.13bn in 19,576 deals was traded last week by investors on the floor of the Exchange, in contrast to 1.10 billion shares valued at N9.88bn that exchanged hands the previous week in 16,616 deals.

The financial services industry (measured by volume) led the activity chart with 736.27 million shares valued at N5.47bn traded in 9,776 deals, thus contributing 70.13 per cent and 54.04 per cent to the total equity turnover volume and value respectively.

The conglomerates industry followed with 69.49 million shares worth N334.48m in 471 deals. The third place was occupied by the consumer goods industry, with a turnover of 66.38 million shares worth N1.35bn in 3,130 deals.

Trading in the top three equities, namely Guaranty Trust Bank Plc, FBN Holdings Plc and FCMB Group Plc (measured by volume) accounted for 316.32 million shares worth N3.35bn in 2,983 deals, contributing 30.13 per cent and 33.08 per cent to the total equity turnover volume and value respectively.

Fourteen equities appreciated in price during the week, compared to 34 in the previous week; 47 equities depreciated in price, compared to 31 in the previous week, while 102 remained unchanged, compared to 98 recorded in the previous week.

A total of 121,769 units valued at N675.28m were traded last week in 22 deals, compared to 767,768 units valued at N5.61bn transacted the previous week in 17 deals.


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