Nigerian Stock Investors Lose N767bn In One Week

Nigerian investors lost N767 billion at the close of last week’s trading on the Nigerian Exchange Limited (NGX) floor.

Last week, the market was open for four trading days since the Federal Government proclaimed Monday a national holiday to honor 2022 Democracy Day.

The NGX All-Share Index and the market capitalization of shares listed on the NGX both fell 2.68 percent last week, closing at 51,778.08 and N27.914tn, respectively.

Similarly, all other indexes finished down, except the NGX Growth index, which gained 2.79 percent, and the NGX Asem index, which closed flat. According to the NGX, 13 stocks appreciated at a lower price this week than 29 stocks the previous week.

Fifty-one equities depreciated at a price higher than 36 in the previous week, while 92 equities remained unchanged above 91 equities recorded in the previous week.

The NGX weekly market report showed that a total turnover of 940.892 million shares worth N11.494bn in 20,077 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 1.831 billion shares valued at N19.494bn that exchanged hands in the previous week in 21,723 deals.

The Financial Services Industry (measured by volume) led the activity chart with 692.325 million shares valued at N6.220bn traded in 10,615 deals, contributing 73.58 percent and 54.12 percent to the total equity turnover volume and value, respectively.

The Conglomerates Industry followed with 89.872 million shares worth N246.063m in 764 deals. The third place was the Consumer Goods Industry, with a turnover of 54.227 million shares worth N1.232bn in 2,923 deals.

Trading in the top three equities, namely, United Bank for Africa Plc, Sterling Bank Plc, and Transnational Corporation Plc (measured by volume), accounted for 304.837 million shares worth N1.285bn in 2,103 deals, contributing 32.39 percent and 11.18 percent to the total equity turnover volume and value respectively.

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