Value erosion seen recently at the Nigerian stock market extended into the trading week ended Friday December 13, 2019. This caused investors to book additional loss in excess of N155billion. The record loss in the review week created an entry window for investors to buy value stocks at lower prices.
The value of listed equities which opened the review week at N12.962 trillion decreased to N12.808trillion at the end of the week.
The Nigerian Stock Exchange (NSE) All Share Index (ASI) decreased from 26,855.52 points to close the review week at 26,536.21points, down by 1.19percent.
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The market recorded a total turnover of 1.044 billion shares worth N14.628 billion in 14,974 deals in contrast to a total of 952.697 million shares valued at N12.774 billion that exchanged hands the preceding week in 17,279 deals.
Eighteen equities appreciated in price during the review trading week, lower than 19 equities in the previous week. Forty-four equities depreciated in price, higher than thirty-five equities in the preceding week, while 103 equities remained unchanged, lower than 111 equities recorded in the preceding week.
The Financial Services industry (measured by volume) led the activity chart with 556.905 million shares valued at N5.678 billion traded in 8,267 deals; thus contributing 53.33percent and 38.81percent to the total equity turnover volume and value respectively.
The Healthcare industry followed with 215.030 million shares worth N122.603 million in 412 deals; and Conglomerates industry with a turnover of 89.601 million shares worth N466.294 million in 874 deals.
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