Stock market sheds N846bn in week ended August 16

Stock market investors recorded loss of N846 billion on the floor of the Nigerian Exchange Limited(NGX) in the trading week ended on Friday, August 16.

The NGX All-Share Index and Market Capitalization depreciated by 1.51 percent to close the week at 97,100.31 and N55.132 trillion respectively.

Similarly, all other indices finished lower with the exception of NGX Insurance, NGX Consumer Goods, NGX Oil & Gas, NGX Lotus II and NGX Growth which appreciated by 0.79 percent, 0.37 percent, 5.25 percent, 0.42 percent, and 6.14 percent respectively, while the NGX ASeM index closed flat.

The NGX says 39 equities appreciated in price during the week lower than 46 equities in the previous week.

Sixty-six equities depreciated in price higher than 38 in the previous week, while 46 equities remained unchanged, lower than 67 recorded in the previous week.

The NGX market report showed a total turnover of 2.033 billion shares worth N42.155 billion in 45,157 deals was traded in the week by investors on the floor of the Exchange, in contrast to a total of 2.679 billion shares valued at N49.017 billion that exchanged hands last week in 47,451 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.377 billion shares valued at N25.652 billion traded in 20,132 deals; thus contributing 67.73 percent and 60.85 percent to the total equity turnover volume and value respectively.

The Oil and Gas Industry followed with 276.729 million shares worth N6.026 billion in 6,848 deals. The third place was the Services Industry, with a turnover of 101.217 million shares worth N682.062 million in 2,475 deals.

Trading in the top three equities of Guaranty Trust Holdings Company Plc, Veritas Kapital Assurance Plc and Japaul Gold & Ventures Plc (measured by volume) accounted for 674.233 million shares worth N16.055 billion in 3,977 deals, contributing 33.16 percent and 38.08 percent to the total equity turnover volume and value respectively.