Market bleeding may stretch to this week as investors lose N80bn last week
For the fact that the market All-Share Index (NSE ASI) and the Market Capitalization which opened penultimate Monday at 25,537.54 and N8.791 trillion depreciated by 0.80 per cent to close the week at 25,333.39 and N8.721 trillion respectively lead investors record a joint loss of N70 billion, there are fears that the trend may continue this week.
It would be recalled that all other indices finished lower last week with the exception of the NSE Banking and NSE Consumer Goods indices that appreciated by 0.02 per cent and 0.42 per cent respectively while the NSE ASeM Index closed flat.
Last week ended with a turnover of 639.439 million shares worth N6.455 billion in 11,799 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 823.547 million shares valued at N5.444 billion that exchanged hands two weeks ago in 11,634 deals.
Recall that the Financial Services Industry (measured by volume) led the activity chart with 491.758 million shares valued at N2.211 billion traded in 6,241 deals; thus contributing 76.90 per cent and 34.25 per cent to the total equity turnover volume and value respectively.
Still with last week activities, the Conglomerates Industry followed with 64.507 million shares worth N58.500 million in 681 deals. The third place was occupied by the Consumer Goods Industry with a turnover of 54.901 million shares worth N3.307 billion in 2,386 deals.
Besides, trading in the top-three equities namely – Access Bank Plc, Diamond Bank Plc and Transnational Corporation of Nigeria Plc (measured by volume) accounted for 210.407 million shares worth N527.918 million in 1,316 deals, contributing 32.91 per cent and 8.18 per cent to the total equity turnover volume and value respectively.
Also traded last week were a total of 25 units of Exchange Traded Products (ETPs) valued at N235.15 executed in 5 deals, compared with a total of 60 units valued at N537.00 transacted two weeks ago in 11 deals.
