Nigerian Stock Exchange Dips by N47 Billion Despite Huge Jump Last Week

The Nigerian Stock Exchange market capitalisation dips by 2.57 percent or N47 billion from N18.308 trillion it closed with last week. This was after the bourse differs economic uncertainties to rise above the 5 percent threshold the previous week.

The NSE All-Share Index closed at 34,136.82 index points, resulting in a decline of 2.57 percent or 900.46 index points from 35,037.46 index points it closed last week.

Investors traded 11.400 billion shares worth N35.892 billion in 39,265 deals, this was in contrast to a total of 4.509 billion shares valued at N58.733 billion that exchanged hands in 47,140 deals in the previous week.

Leading by volume, the Construction/Real Estate industry contributed 74.82% and 16.87% to the total equity turnover volume and value of the market respectively, with 8.529 billion shares valued at N6.055 billion traded in 438 deals.

This was followed by the Financial Services industry with 1.991 billion shares worth N19.933 billion in 21,725 deals.

In third place was the Conglomerates Industry, with a turnover of 423.702 million shares worth N526.698 million in 1,962 deals.

UAC- Property Development Company Plc, Transnational Corporation of Nigeria Plc and Jaiz Bank Plc led equities traded by volume with a combined 9.259 billion shares worth N6.639 billion in 1,958 deals, thereby contributing 81.22% and 18.50% to the total equity turnover volume and value, respectively.