Nigerian Exchange Limited

Stock Investors Cashout as NGX Continues to Decline

Investors in the Nigerian Exchange Limited (NGX) lost N127 billion last week as more investors cash out following the interest rate increase by the Central Bank of Nigeria (CBN) last week.

During the week investors exchanged a total of 917.190 million shares worth N14.803 billion in 19,513 deals, in contrast to a total of 504.322 million shares valued at N7.517 billion that exchanged hands in 12,393 deals in the previous week.

The Financial Services Industry led the activity chart with 648.207 million shares valued at N6.258 billion traded in 9,293 deals. Therefore, contributing 70.63% and 42.27% to the total equity turnover volume and value, respectively.

The Consumer Goods Industry followed with 102.605 million shares worth N3.211 billion in 3,016 deals. In third place was the Conglomerates Industry, with a turnover of 36.218 million shares worth N193.474 million in 562 deals.

United Bank For Africa Plc, Guaranty Trust Holding Company Plc and Access Holdings Plc accounted for 355.624 million shares worth N4.120 billion in 3,486 deals, contributing 38.77% and 27.83% to the total equity turnover volume and value, respectively.

The NGX All-Share Index depreciated by 0.45% or 235.20 index points to close the week at 51,979.92 index points, down from 52,215.12 index points recorded in the previous week.

The market value of all equities dipped by the same 0.45% or N127 billion to settle at N28.031 trillion in the week under review from N28.158 trillion.

Similarly, all other indices finished lower with the exception of the NGX Insurance, NGX MERI Growth, NGX Oil/Gas, NGX Growth and NGX Sovereign Bond Indices which appreciated at 1.81%, 1.01%, 3.80%, 0.41% and 0.15% while, the NGX ASeM index closed flat.

Nineteen equities appreciated in price during the week, lower than Twenty in the previous week. Thirty-six equities depreciated in price higher than Thirty-two in the previous week, while one hundred and one equities remained unchanged lower than one hundred and four equities recorded in the previous week.

The Exchange year to date declined to 21.69%. See other details below.

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Share
Published by
Samed Olukoya

Recent Posts

Discordant Tunes Greet 50% Tariff Hike As Subscribers Threaten To Sue NCC

Nigerians have expressed displeasure over the decision of the Nigerian Communications Commission to increase tariffs…

2 hours ago

Beatrice Ekweremadu Returns to Nigeria After Serving Sentence in UK

Mrs. Beatrice Ekweremadu, wife of former Deputy Senate President Senator Ike Ekweremadu, has reportedly returned…

3 hours ago

Nigeria Expands Refining Capacity with MRO Energy’s Delta State Refinery

The Federal Government has taken another step toward boosting Nigeria’s refining capacity with the approval…

3 hours ago

Eko DisCo Set for Transformation as Transgrid Enerco Signs Historic 60% Acquisition Agreement

Transgrid Enerco Limited has signed a Share Purchase Agreement (SPA) to acquire a 60% equity…

4 hours ago

Metering Gap Exceeds 7 Million Despite Multilateral Loans and Government Funds

Despite interventions by the Federal Government and multilateral lenders amounting to over N1.5 trillion, Nigeria’s…

4 hours ago

Petrol Prices Surge to N990 in Abuja, N960 in Lagos as Oil Tops $80 Per Barrel

The Nigerian National Petroleum Company Limited (NNPC) has increased the pump price of petrol at…

5 hours ago