Stock Market Closed in Red Despite Zenith, GTBank, Fidelity Gains

The Nigerian Stock Exchange depreciated further last week after losing N257 billion in the previous week.

Investors traded a total turnover of 901.542 million shares valued at N13.453 billion in 18,676 transactions during the week. While the turnover was below the 961.833 million shares exchanged in the previous week, the value traded was more than the N9.181 billion exchanged in 18,676 transactions in the previous week.

The sectoral analysis showed the financial sector led in terms of turnover with 628.368 million shares worth N5.181 billion traded in 9,887 deals. The sector contributed 69.81 percent and 38.55 percent to the total volume and value traded respectively.

The ICT sector trailed the financial sector with 59.506 million shares valued at N5.161 billion in 684 deals, while the consumer goods industry came third with 57.136 million shares worth N1.385 billion in 2,993 transactions.

Guaranty Trust Bank Plc, Fidelity Bank Plc and Zenith Bank Plc led in terms of volume traded with a combined 293.678 million shares valued at N4.042 billion in 4,334 deals. The three accounted for 32.58 percent and 30.05 percent of the total volume and value exchanged respectively.

Further analysis revealed that investors traded a turnover volume of 189.691 million shares valued at N2.785 billion in 4,216 transactions on Monday. This dropped to 155.529 million shares worth N2.6 billion in 4,060 deals on Tuesday. While 232.609 million shares valued at N4.698 billion, 192.081 million shares worth N2.470 billion and 131.630 million shares worth N899 million were exchanged in 3,523 deals on Wednesday, 3,833 deals on Thursday and 3,044 deals on Friday.

NSE All-Share Index depreciated by 0.12 percent or 29.76 basis points from 24,336.12 bps recorded in the previous week to 24,306.36 bps last week.

The market capitalisation of listed equities also lost 0.12 percent or N15 billion from the N12.695 trillion filed in the previous week to N12.680 trillion last week.