Equity investors lose N571 billion in a week

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Investors lost N571 billion at the end of trading on the trading floor of the Nigerian Exchange Limited last week.

The NGX All-Share Index and the market capitalization of NGX-listed stocks depreciated 2.09% to close at 49,664.07 and 26.787 tn last week.

All other indices ended lower, except for the NGX Insurance, NGX Consumer Goods and NGX Growth indices which appreciated by 6.00%, 3.00% and 1.56 %, while the NGX ASeM index closed flat.

According to the NGX, 33 stocks rose during the week, down from 41 stocks the previous week.

Twenty-six stocks depreciated above 22 in the previous week, while 97 stocks remained unchanged above the 93 stocks recorded in the previous week.

The NGX weekly market report showed that a total turnover of 1.511 billion shares worth N13.547 billion in 20,074 trades was traded last week by investors on the floor of the Exchange against a total of 705.636 million shares valued at 12.850 billion naira which exchanged hands in the previous week in 22,124 transactions.

The financial services sector (measured by volume) leads the business chart with 680.202 million shares valued at N4.672 billion traded in 9,230 transactions; thus contributing 45.02% and 34.48% respectively to the volume and value of the total stock turnover.

Services industry followed with 499.178 million shares worth N3.407 billion in 866 deals. Third place was the ICT industry, with turnover of 113.804 million shares worth N2.246 billion in 2,083 transactions. Trading of the top three stocks i.e. Capital Hotel Plc, FBN Holdings Plc and Jaiz Bank Plc (measured by volume) accounted for 763.836 million shares worth N5.130 billion in 1,025 trades, contributing 50 .55% and 37.87% to the total share turnover volume. and value respectively.