Nigeria’s stock investors lost over N130bn in one week

In the trading week ended Friday March 19, the benchmark performance indicator of the Nigerian Bourse – All Share Index (ASI) depreciated by 0.69percent to close at 38,382.39 points, as against week open high of 38,648.48 points. The value of listed stocks closed lower at N20.082 trillion from N20.221 trillion at the beginning of the review week, down by N139billion.

Only 33 equities appreciated in price during the review week, lower than 35 equities in the preceding trading week. Twenty-five (25) equities depreciated in price, lower than 38 equities in the preceding week, while 104 equities remained unchanged, higher than 89 equities recorded in the preceding week.

However, all other indices finished higher with the exception of NSE Mainboard, NSE 30, NSE Insurance, NSE Consumer Goods, NSE Lotus II, NSE Industrial and NSE Growth Indices, which declined by 1.68percent, 0.99percent, 0.01percent, 1.46percent, 1.51percent, 2.62percent and 0.25percent while the NSE Sovereign Bond Index closed flat.

Investors exchanged 2.342 billion shares worth N19.272 billion in 20,173 deals, in contrast to a total of 1.675 billion shares valued at N23.541 billion that exchanged hands preceding week in 21,732 deals.

The Financial Services Industry (measured by volume) led the activity chart with 1.888 billion shares valued at N12.446 billion traded in 12,019 deals; thus contributing 80.60percent and 64.58percent to the total equity turnover volume and value respectively. The Natural Resources Industry followed with 201.260 million shares worth N41.295 million in 27 deals, and Conglomerates Goods Industry, with a turnover of 62.053 million shares worth N65.672 million in 612 deals.

Trading in the top three equities namely Unity Bank Plc, Guaranty Trust Bank Plc and Multiverse Mining and Exploration Plc (measured by volume) accounted for 1.471 billion shares worth N7.114 billion in 2,317 deals, contributing 62.82percent and 36.91percent to the total equity turnover volume and value respectively.