Stock Market Capitalization Falls Significantly To N25.41tn

NGX Records N60bn Trading

The market capitalization of equities listed on the Nigerian Exchange Limited fell by 0.12 percent to close at N25.41tn last week.

The NGX All-Share Index also declined by 0.13 percent to close at 47,140.48 basis points.

However, all other indices finished higher, except NGX Premium, NGX Banking, NGX AFR Bank value, NGX Oil & Gas, and NGX Industrial Goods which depreciated by 0.29 percent, 0.74 percent, 0.86 percent, 3.45 percent, and 0.32 percent respectively while the NGX Main Board, NGX Asem, NGX Growth, and NGX Sovereign Bond indices closed flat.

According to the NGX, 43 equities appreciated at price during the week, compared to 44 equities in the previous week.

Thirty-eight equities depreciated as against 31 in the previous week, while 75 equities remained unchanged as against 81 in the previous week.

The NGX weekly market report showed that a total turnover of 1.713 billion shares worth N30.76bn in 24,767 deals was traded during the week by investors on the floor of the Exchange, compared to 1.331 billion shares valued at N22.7bn that exchanged hands in 27,822 deals in the previous week.

The financial services industry (measured by volume) led the activity chart with 1.064 billion shares valued at N12.2bn traded in 11,708 deals, contributing 62.14 percent and 39.66 percent to the total equity turnover volume and value respectively.

The third place was occupied by the foreign industry, with a turnover of 113.554 million shares worth N309.83m in 1,062 deals.

Trading in the top three equities, namely Access Bank Plc, Guaranty Trust Holding Company Plc and Fidelity Bank Plc, (measured by volume), accounted for 500.778 million shares worth N7.46bn in 3,603 deals, contributing 29.23 percent and 24.23 percent to the total equity turnover volume and value respectively.

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