Stock Investors Lose N118 Billion This Week Amid Broad-based Profit Taking

• Nigerian Stocks Exchange Lose N118bn Amid Broad-based Profit Taking

The Nigerian Stocks Exchange (NSE) closed in the red this week as investors continue to take profits following several weeks of bullish runs.

The NSE All-Share Index depreciated by 1 percent or 251.52 basis points to close the week at 25,016.30 basis points, down from 25,267.82 basis points it closed a week ago.

Accordingly, the market capitalisation of listed equities dipped by 0.90 percent from N13.168 trillion last week to N13.050 trillion this week.

Activity level was high as a total turnover of 1.469 billion shares valued at N23.553 billion were exchanged in 22,911 transactions during the week, against the 1.255 billion shares worth N13.501 billion traded in 20,554 deals a week ago.

In terms of volume traded, the financial services sector led with 861.775 million shares valued at N8.545 billion but traded in 11,647 deals. This, according to the NSE report for the week, constitutes 58.66 percent and 36.28 percent of the total equity volume and value traded respectively.

The consumer goods industry followed with 184.644 million shares worth N5.880 billion traded in 3,953 deals while the services sector came third with a turnover of 119.238 million shares valued at N270.084 million exchanged in 1,043 deals.

The most traded stocks during the week were FBN Holdings Plc, Guaranty Trust Bank Place and Zenith Bank plc, the three accounted for 456.576 million shares worth N6.940 billion in 5,921 deals and contributed 31.08 percent and 29.47 percent to the total stock volume and value respectively.

All the indices traded in the week closed lower except NSE AFR Div Yield and NSE Consumer Goods Indices that appreciated by 1.20 percent and 0.26 percent respectively while NSE ASeM closed flat.

The year-to-date decline rose slightly to 6.8 percent this week. While the quarter to date adjusted to 17.44 percent, one the best quarters in the history of the bourse.

So far, the exchange has lost 1 percent this month of June.