Stock Market Sheds 1.74 Percent to Close at N20.221 Trillion Last Week

The Nigerian Stock Exchange (NSE) extended its decline by 1.74 percent last week as sell-off persist across the board.

Investors traded 1.675 billion shares valued at N23.541 billion in 21,732 transactions during the week, against a total of 2.093 billion shares valued at N29.744 billion that exchanged hands in 24,238 deals in the previous week.

In terms of volume traded, the financial services industry led the activity chart with 1.200 billion shares worth N10.272 billion and traded in 12,518 transactions. Therefore, the industry contributed 71.64 percent and 43.64 percent to the total equity turnover volume and value, respectively.

This was followed by the consumer goods industry with 110.564 million shares valued at N3.577 billion in 3,234 deals.

In third place was the industrial goods industry, with a turnover of 99.761 million shares worth N5.322 billion in 1,309 deals.

The top three most traded equities were United Bank for Africa Plc, FBN Holdings Plc and Zenith Bank Plc. The three accounted for a combined 524.548 million shares worth N5.957 billion in 5,346 deals and contributing 31.32 percent and 25.30 percent to the total equity turnover volume and value, respectively.

The market value of listed equities declined by 1.74 percent or N357 billion from N20.578 trillion in the previous week to N20.221 trillion last week.

Similarly, NSE All-Share Index depreciated by 1.74 percent or 683.13 basis points to 38,648.48 basis points, down from 39,331.61.

Champion Breweries led the week with a 45.24 percent gain to close at N2.44 per share. Followed by Regency Assurance Plc as shown below.