Weekly Market Update: Investors lose N370bn as NGX Ends Week Negative
3 min read
- The Nigerian Exchange closed the week lower, with the All-Share Index declining by 0.25% and market capitalisation easing to N160.077 trillion
- Financial Services stocks dominated trading activity, accounting for 62.19% of total turnover volume, led by Sovereign Trust Insurance
- Market breadth was negative as 38 equities advanced, while Sovereign Trust Insurance, Trans-Nationwide Express
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Nigerian Exchange closes the week lower: NGX All-Share Index declines by 0.25%, while market capitalisation falls to N160.08 trillion amid losses in consumer defensive and industrial stocks.
Data from the NGX showed that at the end of trading on Friday, May 22, the NGX All-Share Index and market capitalisation depreciated by 0.25% and 0.23% to close at 249,712.37 points and N160.08 trillion respectively
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Snapshot of the markets performance
- Total turnover traded on the Exchange stood at 3.88 billion shares worth N161.76 billion in 334,745 deals, compared with 7.77 billion shares valued at N374.04 billion in 402,945 deals the previous week
- Financial Services dominated trading with 2.41 billion shares worth N69.71 billion in 126,919 deals, accounting for 62.19% of volume and 43.10% of value
- Services industry ranked second with 409.31 million shares valued at N5.41 billion in 25,908 deals
- Oil & Gas industry ranked third with 294.86 million shares worth N31.50 billion in 26,738 deals
- Sterling Financial Holdings Company Plc, Fidelity Bank Plc and Access Holdings Plc led trading activity
- The top three stocks recorded 1.09 billion shares valued at N19.53 billion in 21,683 deals
- The trio accounted for 28.18% of total volume and 12.07% of total value traded
- Market breadth closed negative with 38 gainers, down from 74 in the previous week
- 55 equities declined in price during the week compared with 24 in the prior week
- 53 equities closed flat, compared with 48 unchanged equities in the previous week
Major movers
- Associated Bus Company Plc 6.27-9.08, gaining 2.81 (+44.82%).
- Academy Press Plc 7.05-9.15, gaining 2.10 (+29.79%)
- University Press Plc 5.00-6.40, gaining 1.40 (+28.00%)
- International Energy Insurance Plc 2.79-3.41, gaining 0.62 (+22.22%)
- Learn Africa Plc 10.85-12.90, gaining 2.05 (+18.89%)
- Japaul Gold & Ventures Plc 3.34-3.82, gaining 0.48 (+14.37%)
- Zichis Agro Allied Industries Plc 29.43-33.65, gaining 4.22 (+14.34%)
- Oando Plc 47.00-52.50, gaining 5.50 (+11.70%)
- FTN Cocoa Processors Plc 8.96-9.90, gaining 0.94 (+10.49%)
- Aluminium Extrusion Industries Plc 9.00-9.90, gaining 0.90 (+10.00%)
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Top price decliners
- Sovereign Trust Insurance Plc 2.94-2.28, losing 0.66 (-22.45%)
- Trans-Nationwide Express Plc 7.06-5.72, losing 1.34 (-18.98%)
- CAP Plc 233.70-199.00, losing 34.70 (-14.85%)
- Berger Paints Plc 168.95-147.60, losing 21.35 (-12.64%)
- R.T. Briscoe Plc 15.83-14.06, losing 1.77 (-11.18%)
- NCR (Nigeria) Plc 179.10-161.20, losing 17.90 (-9.99%)
- Industrial & Medical Gases Nigeria Plc 42.30-38.10, losing 4.20 (-9.93%)
- Livestock Feeds Plc 9.80-8.90, losing 0.90 (-9.18%)
- VFD Group Plc 10.95-9.95, losing 1.00 (-9.13%)
- Ellah Lakes Plc 10.95-10.05, losing 0.90 (-8.22%)
Source: Legit.ng
