Market Capitalisation of Nigerian Equities Dips N32 Billion Last Week

Weak global sentiment due to the Russia-Ukraine war seems to have started weighing on Nigerian equities as the Nigerian Exchange Limited (NGX) closed in the red in the week ended March 4, 2022.

Investors exchanged 1.374 billion shares worth N23.786 billion in 28,809 deals during the week, in contrast to a total of 1.668 billion shares valued at N19.481 billion that exchanged hands in 25,979 deals in the previous week.

Breaking down the performance of each industry, the Financial Services Industry led the activity chart with 889.542 million shares valued at N8.036 billion traded in 14,034 deals. Therefore, contributing 64.74% and 33.78% to the total equity turnover volume and value, respectively.

The Conglomerates Industry followed with 131.154 million shares worth N199.272 million in 1,259 deals. In third place was The ICT Industry, with a turnover of 89.777 million shares worth N10.593 billion in 2,119 deals.

FCMB Group Plc, Transnational Corporation of Nigeria Plc and Zenith Bank Plc were the three most traded equities last week. The three accounted for a combined 416.676 million shares worth N2,989 billion in 3,321 deals and contributed 30.32% and 12.57% to the total equity turnover volume and value, respectively.

The NGX All-Share Index depreciated by 0.13 percent or 59.81 index points to 47,268.61 index points last week, down from 47,328.42 index points it closed in the previous week. The market capitalisation of all listed equities shed N32 billion to N25,475 trillion.

Similarly, all other indices finished lower with the exception of NGX Premium, NGX AseM, NGX Meri Growth, NGX Oil/Gas and NGX Sovereign bond indices.

A total of twenty-two equities appreciated in price during the week, below the forty-four equities posted in the previous week. However, forty-nine equities depreciated in price, higher than Twenty-two equities in the previous week, while Eighty-five equities remained unchanged lower than Ninety equities recorded in the previous week.

The year-to-date return declined to 10.66% last week. See the details of the top gainers and losers below.