Equities market decreases by 0.75% in week ended July 14

In the trading week ended Friday July 14, the
Nigerian Exchange Limited (NGX) All-Share Index and equities market capitalisation depreciated by 0.75percent to close at 62,569.73 points and N34.070 trillion respectively.

Similarly, all other indices finished lower with the exception of NGX Oil and Gas, NGX Lotus ll and NGX Industrial Goods Indices which appreciated by 1.43percent, 0.72percent and 9.01percent respectively while the NGX ASeM and NGX Sovereign Bond Indices closed flat.

Twenty-nine equities appreciated in price during the review trading week lower than 78
equities in the preceding week. Seventy-seven equities depreciated in price, higher than 25 in the preceding week, while 50 equities remained unchanged, lower
than 53 recorded in the preceding week.

The market recorded total turnover of 5.246 billion shares worth N63.417billion traded in 57,234 deals by investors on the floor of the Exchange, in contrast to a total of 9.831 billion shares valued at N145.408 billion that exchanged hands preceding week in 54,478 deals.

The Financial Services Industry (measured by volume) led the activity chart with 3.494 billion shares valued at N38.032 billion traded in 28,633 deals; thus contributing 66.60percent and 59.97percent to the total equity turnover volume and value respectively. It was followed by the Conglomerates Industry followed with 451.410 million shares worth N2.186 billion in 3,147 deals and the ICT Industry, with a turnover of 332.705 million shares worth N5.638 billion in 4,207 deals.

Trading in the top three equities – United Bank for Africa Plc Transnational Corporation Plc and FBN Holding Plc (measured by volume) accounted for 1.222 billion shares worth
N15.523 billion in 8,260 deals, contributing 23.28percent and 24.48percent to the total equity turnover volume and value respectively.