NGX All-Share Index Sheds 0.86 Percent Last Week as Stock Market Extends Decline

The Nigerian Exchange Limited All Share Index extended decline by 0.85 percent to 38,921.78 index points last week after depreciating by 0.57 percent in the previous week. While investors lost N177 billion as market value of all listed equities declined from N20.456 trillion recorded in the previous week to N20.279 trillion.

Investors traded 1.426 billion shares worth N13.073 billion in 19,315 deals during the week, against a total of 1.338 billion shares valued at N8.650 billion that exchanged hands in the previous week in 19,830 deals.

In terms of volume traded, the Financial Services Industry led the activity chart with 1.136 billion shares valued at N8.201 billion and in 10,700 transactions. Therefore, the industry contributed 79.68 percent and 62.73 percent to the total equity turnover volume and value, respectively.

The Consumer Goods Industry followed with 76.520 million shares worth N1.383 billion in 3,076 deals. In the third place was Conglomerates, with a turnover of 58.222 million shares worth N186.293 million in 769 deals.

FBN Holdings Plc, Access Bank Plc and Wema Bank Plc were the three most traded stocks during the week and accounted for 626.756 million shares worth N4.458 billion exchanged in 2,802 transactions. The three, therefore, contributed 43.95 percent and 34.10 percent to the total equity turnover volume and value, respectively.