• Tuesday, April 23, 2024
businessday logo


Here’s how stock market performed in week ended Dec. 24

Stocks slump 1.1% as politics takes toll

Ahead of the Christmas holidays, Nigeria’s stock market closed the week in the red zone. Thirty-three (33) equities appreciated in price during the review week, higher than 32 equities in the preceding week.

Twenty-five (25) equities depreciated in price, lower than 28 equities in the preceding week, while 99 equities remained unchanged higher than 96 equities recorded in the preceding week.

In the trading week ended December 24, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation depreciated by 0.21percent and 0.21percent to close the week at 42,262.85 and N22.060 trillion respectively.

Similarly, all other indices finished lower with the exception of NGX Main Board, NGX Banking, NGX Insurance, NGX AFR Div Yield, NGX MERI Growth, NGX Consumer Goods, and NGX Industrial Goods Index which appreciated by 0.44percent, 0.10percent, 1.85percent, 0.15percent, 0.56percent, 0.78percent, and 0.43percent respectively while the NGX ASeM, NGX Growth, and NGX Sovereign Bond Indices closed flat.

Read also: Listings, delistings that shaped Nigerian stock market in 2021

The market recorded a total turnover of 965.061million shares worth N12.455 billion in 14,802 deals, in contrast to a total of 1.317 billion shares valued at N15.330 billion that exchanged hands the preceding week in 18,292 deals.

The Financial Services Industry (measured by volume) led the activity chart with 574.223 million shares valued at N4.861 billion traded in 7,794 deals; thus contributing 59.50percent and 39.03percent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 246.783 million shares worth N 2.065 billion in 382 deals, and the Consumer Goods Industry, with a turnover of 30.307 million shares worth N1.669 billion in 2,157 deals.

Trading in the top three equities namely UACN Plc, FBN Holdings Plc, and Sovereign Trust Insurance Plc (measured by volume) accounted for 378,555 million shares worth N3.266 billion in 14,802 deals, contributing 39.23percent and 26.22percent to the total equity turnover volume and value respectively.