The Nigerian Exchange Ltd. (NGX) stock market capitalization ended the week with a N761 billion loss, week over week, having lost four of the five trading sessions.
During the course of the week, the dismal market’s performance was mostly caused by sell-offs in Airtel Africa, Transnational Corporation (Transcorp), PZ Cussons Nigeria, Berger Paints, Zenith Bank, and FBN Holdings, among other declining stocks.
In particular, the All-Share Index and NGX market capitalization decreased by 1.36 and 1.35 percent, respectively, to end the week at N55.562 trillion and 98,233.76, as opposed to N56.323 trillion and 99,587.25, respectively.
With the exception of NGX CG, NGX Premium, NGX AFR Bank Value, NGX AFR Div Yield, and NGX Industrial Goods, all other indexes also closed lower. Additionally, the NGX ASeM index finished flat, but the NGX Growth and NGX Sovereign Bond saw appreciation of 0.12, 0.20, 1.84, 0.79, 0.07, 0.02, and 1.30 percent. In the meantime, the price of 37 stocks fell, more than the 36 that did so the week before.
During the week, the price of forty stocks increased as well, down from 42 stocks the week before, and 77 stocks stayed the same, up from 76 stocks the week before.
PZ led by N10.25 to close at N27.75 on the losers table, followed by McNichols Plc by 23k to conclude at 91k, and Secure Electronic Technology Plc by 10k to close at 49k a share.
International Breweries Plc declined by 73k to close at N4.05, while Axa Mansard Insurance shed 76k to close at N5.13 per share. Conversely, Tantalizers Plc led the gainers table by 10k to close at 46k, FTN Cocoa Processors followed by 27k to close at N1.62 per share.
Also, Presco Plc gained N38.70 to close at N291.50,May & Baker rose by 90k to close at N6.90 and The Initiates Plc added 30k to close at N2.30 per share.
Meanwhile, a total turnover of 2.187 billion shares worth N50.667 billion in 45,277 deals was traded this week by investors on the floor of the Exchange. This was in contrast to 1.941 billion shares valued at N32.644 billion that exchanged hands last week in 35,807 deals.
The Financial Services Industry, measured by volume, led the activity chart with 1.428 billion shares valued at N28.850 billion traded in 24,418 deals.
Hence, contributing 65.29 per cent and 56.94 per cent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 385.661 million shares worth N9.919 billion in 5,826 deals. The third place was the Conglomerates Industry, with a turnover of 133.697 million shares worth N1.715 billion in 3,271 deals.
Trading in the top three equities namely United Bank for Africa Plc, Nigerian Breweries Plc and Access Holdings Plc measured by volume accounted for 1.020 billion shares worth N23.631 billion in 9,587 deals.
This indicated a contribution of 46.63 and 46.64 per cent to the total equity turnover volume and value respectively. Additionally, NGX on Friday of the week under review listed AVA Global Asset Managers Ltd’s., AVA Infrastructure Series one Fund of 4,075 units of N1million each issued at par under the N200 billion issuance programme. The trading symbol for the AVA Infrastructure Fund is AVAIF.
