Investors Lose N2.1trillion in One Week on Nigerian Stock Market
- The Nigerian Exchange closed on the low after 5 days of trading last with investors focused on Financial Services
- NCR (Nigeria) Plc, UACN Plc, and Ikeja Hotel Plc led the top gainers for the week in the one-week trading
- The top decliners included International Energy Insurance Plc, LivingTrust Mortgage Bank Plc, NEM Insurance Plc, and Access Holdings Plc
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.
Investors on the Nigerian Exchange (NGX) traded a total of 2.668 billion shares valued at N106.264 billion across 107,998 deals in five trading days ending Friday, November 21.
Activities mark a sharp decrease in both volume and value compared with last week’s 7.325 billion shares worth N156.425 billion traded in 134,383 deals.
Source: Facebook
Snapshot of how the market performed
The NGX All-Share Index (ASI) fell by 2.2% to close at 143,722.62 points, while market capitalisation dropped by 2.23% to N91.410 trillion in one week.
Market breadth was negative, with 41 equities declining, unchanged from the previous week, while 52 advanced and 53 remained unchanged.
The financial services sector dominated market activity, with 1.820 billion shares worth N44.806 billion exchanged in 45,297 deals, representing 68.21% of total turnover by volume and 42.16% by value, Vanguard reports.
The services sector followed with 324.191 million shares valued at N1.761 billion in 8,018 deals, while the Oil & Gas sector recorded 143.185 million shares worth N37.741 billion in 7,788 deals.
The three most actively traded stocks Access Holdings Plc, Tantalizers Plc, and Zenith Bank Plc—recorded a combined 1.057 billion shares valued at N24.652 billion across 13,924 deals, representing 39.63% of total market volume and 23.20% of total turnover value.
Top 5 price gainers
- NCR (Nigeria) Plc opened at N25.60 and closed at N41.10, gaining N15.50 (60.55%).
- University Press Plc opened at N5.10 and closed at N6.00, gaining N0.90 (17.65%).
- Tantalizers Plc opened at N2.14 and closed at N2.51, gaining N0.37 (17.29%).
- Caverton Offshore Support Group Plc opened at N4.70 and closed at N5.50, gaining N0.80 (17.02%).
- UACN Plc opened at N60.00 and closed at N70.00, gaining N10.00 (16.67%).
Source: Getty Images
Top 5 price decliners
- International Energy Insurance Plc opened at N2.72 and closed at N2.12, losing N0.60 (-22.06%).
- McNichols Plc opened at N3.02 and closed at N2.57, losing N0.45 (-14.90%).
- Veritas Kapital Assurance Plc opened at N1.88 and closed at N1.60, losing N0.28 (-14.89%).
- AIICO Insurance Plc opened at N3.65 and closed at N3.15, losing N0.50 (-13.70%).
- LivingTrust Mortgage Bank Plc opened at N4.14 and closed at N3.58, losing N0.56 (-13.53%).
2 Nigerian banks to become one
Earlier, Legit.ng reported that Unity Bank Plc and Providus Bank Limited have secured approvals from their shareholders and the Central Bank of Nigeria (CBN) to proceed with a merger.
Under the agreement, Unity shareholders will receive N3.18 per share or 18 Providus shares for every 17 Unity shares, more than twice Unity’s last traded price of N1.51 on the Nigerian Exchange.
Source: Legit.ng
