Stock market drops by 1.58% in week ended March 17

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and its equities Market Capitalisation depreciated by 1.58 percent to close the week ended Friday, March 17 at 54,915.39 points and N29.916 trillion respectively.

All other indices finished lower in the review trading week with the exception of NGX Consumer Goods and NGX Growth which appreciated by 1.11percent and 2.90percent respectively while the NGX ASeM, NGX Oil and Gas indices and NGX Sovereign Bond index closed flat.

Nineteen equities appreciated in price during the review week lower than 22 equities in the preceding week. Forty-seven equities depreciated in price higher than 41 in the preceding week, while 91 equities remained unchanged, lower than 94 equities recorded in the preceding week.

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Investors exchanged 853.745 million shares worth N11.841 billion in 18,543 deals in contrast to a total of 1.023 billion shares valued at N20.221 billion that exchanged hands the preceding week in 18,650 deals.

The Financial Services Industry (measured by volume) led the activity chart with 547.566 million shares valued at N7.100 billion traded in 9,419 deals; thus contributing 64.14percent and 59.97percent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 85.145 million shares worth N134.734 million in 717 deals and the Consumer Goods Industry, with a turnover of 52.981 million shares worth N1.584 billion in 2,865 deals.

Trading in the top three equities namely Transnational Corporation Plc, Zenith Bank Plc and Sterling Bank Plc (measured by volume) accounted for 226.004 million shares worth N2.041 billion in 2,613 deals, contributing 26.47percent and 17.24percent to the total equity turnover volume and value respectively.

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