Investors Loses N150 Billion as Stock Exchange Dips by 0.42% Last Week

The Nigerian Exchange Limited (NGX) pulled back last week following weeks of bullish run that trailed a series of changes made by President Bola Ahmed Tinubu to the economy.

During the week, a total of 1.689 billion shares worth N29.407 billion were exchanged in 29,477 deals, in contrast to a total of 1.741 billion shares valued at N25.087 billion that exchanged hands in 30,652 transactions in the previous week.

The Financial Services Industry led the activity chart with 1.166 billion shares valued at N16.925 billion traded in 13,819 deals, therefore contributing 69.04% and 57.55% to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 191.320 million shares worth N843.336 million in 1,829 deals. The third place was the Oil & Gas Industry, with a turnover of 64.352 million shares worth N810.637 million in 2,159 deals.

FBN Holdings Plc, Transnational Corporation Plc and Fidelity Bank Plc were the three most traded equities during the week and accounted for a combined 576.688 million shares worth N6.911 billion that exchanged hands in 3,524 deals and contributed 34.14% and 23.50% to the total equity turnover volume and value respectively.

The NGX All-Share Index depreciated by 0.93% to close the week at 64,721.09 index points, up from the 65,325.37 index points it settled in the previous week. While the market capitalization declined by 0.42% to settle at N35.422 trillion respectively.

The Exchange year-to-date return stood at 26.28%. Similarly, all other indices finished lower with the exception of NGX Premium, NGX AFR. Div. Yield, NGX Consumer Goods, NGX Industrial Goods, NGX Growth and NGX Sovereign Bond indices which appreciated by 0.69%, 0.44% 2.39%, 0.37%, 1.08% and 0.25% respectively while the NGX ASeM index closed flat.

Twenty-nine equities appreciated in price during the week lower than forty-one equities in the previous week. Fifty-six equities depreciated in price higher than forty-four in the previous week, while seventy equities remained unchanged, same as seventy recorded in the previous week.