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Stock market extends losing streak as investors lose N240bn



Stock market

Nigerian equities market extended negative sentiments at the first trading week of March as investors on the trading floor of the Nigerian Stock Exchange (NSE), lost N240 billion, causing the All Share Index (ASI) to depreciate further by 1.18 percent.

The Nigerian Stock Exchange All-Share Index and the market capitalisation dropped by 1.18 percent to close last week at 39,331.61 and N20.58tn respectively.

All other indices finished lower with the exception of NSE Industrial Goods and NSE Sovereign Bond Indices which rose by 1.39 per cent and 0.07 percent while the NSE ASeM Index closed flat.

A total turnover of 2.092 billion shares worth N29.744 billion in 24,238 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 1.930 billion shares valued at N20.656 billion that exchanged hands last week in 24,687 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.633 billion shares valued at N10.727 billion traded in 13,269 deals; thus contributing 78.06% and 36.06% to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 92.009 million shares worth N4.521 billion in 4,168 deals. The third place was Oil & Gas Industry, with a turnover of 91.340 million shares worth N10.527 billion in 1,471 deals.

Trading in the top three equities namely Wema Bank Plc, Axamansard Insurance Plc and Zenith Bank Plc (measured by volume) accounted for 903.561 million shares worth N5.564 billion in 4,017 deals, contributing 43.19% and 18.71% to the total equity turnover volume and value respectively.

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Equity Turnover – LA total of 56,069 units of Exchange Traded Products valued at N411.58m were traded last week in 12 deals, compared with a total of 159,764 units valued at N1.25bn transacted in 20 deals in the previous week.

A total of 4,550 units of bonds valued at N4.86m were traded last week in eight deals, compared with a total of 21,438 units valued at N23.28m transacted last week in 18 deals.



  1. Pingback: Stock Market Extends Losing Streak As Investors Lose N240bn | Techvalley

  2. Pingback: Stock market extends losing streak as investors lose N240bn - 9jaheadies

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