Nigerian Equities Market Dips Last Week, Sheds N41 Billion

Nigerian equities dipped slightly last week to N25.436 trillion as activity across the Nigerian Exchange Limited (NGX) declined on the back of moderating investors sentiment.

Investors exchanged a total of 1.331 billion shares worth N22.700 billion in 24,039 deals during the week, against a total of 1.785 billion shares valued at N19.614 billion that exchanged hands in 27,822 transactions in the previous week.

The Financial Services Industry led the activity chart with 886.121 million shares valued at N10.058 billion traded in 11.563 deals. Therefore, contributing 66.60 percent and 44.31 percent to the total equity turnover volume and value, respectively. The Consumer Goods Industry followed with 107.592 million shares worth N4.472 billion in 3,833 deals.

In third place was The Conglomerates Industry, with a turnover of 102.192 million shares worth N198.077 million in 1,008 deals.

Access Bank Plc, Guaranty Trust Holding Company Plc, and Fidelity Bank Plc were the three most traded equities in the week, accounting for a combined 316.758 million shares worth N4.353 billion in 3,476 deals. The three contributed 23.80 percent and 19.18 percent to the total equity turnover volume and value, respectively.

Market value of all listed equities depreciated by 0.16 percent or N41 billion from N25.477 trillion recorded in the previous week to N25.436 trillion last week. The NGX All-Share index dipped by 0.16 percent or 77.62 index points to 47,279.92 index points, down from 47,279.92 index points achieved in the previous week. The year-to-date return moderated to 10.5 percent.

Similarly, all other indices finished lower with the exception of NGX 30, NGX Banking, NGX Pension, NGX Insurance, NGX AFR Bank, NGX AFR Div. Yield, NGX Meri Value, NGX Consumer Goods, NGX Oil & Gas, and NGX industrial Goods indices, which appreciated by 0.07 percent, 2.34 percent, 0.46 percent,1.51 percent, 0.32 percent, 4.78 percent, 2.03 percent, 1.35 percent, 0.29 percent, and 0.06 percent, while the NGX Growth Index closed flat.

Forty-four equities appreciated at price during the week, higher than Forty-two equities in the previous week. Thirty-one equities depreciated in price, lower than Thirty-five equities in the previous week, while Eighty-one equities remained unchanged higher than Seventynine equities recorded in the previous week. See the details of top gainers and losers below.