BENCHMARK STOCK INDEX FALLS BY 2.89%
The nation’s stocks fell further last week as the All Share Index of the Nigerian Stock Exchange depreciated by 2.89 per cent to 35,446.47 basis points. The market capitalisation of listed equities dropped by 2.86 per cent to close the week at N12.941tn. Similarly, all other indices finished lower with the exception of the ASeM Index that closed flat.
A total turnover of 925.630 million shares worth N8.333bn in 15,565 deals were traded last week by investors on the floor of the Exchange, compared to 1.391 billion shares valued at N20.316bn that exchanged hands in 20,064 deals the previous week.
The financial services industry (measured by volume) led the activity chart with 680.751 million shares valued at N5.283bn traded in 8,524 deals, thus contributing 73.54 per cent and 63.40 per cent to the total equity turnover volume and value respectively. The healthcare industry followed with 47.664 million shares worth N31.197m in 531 deals while the third place was occupied by the conglomerates industry with a turnover of 40.814 million shares worth N63.710m in 728 deals.
Trading in the top three equities, namely United Bank for Africa Plc, Wema Bank Plc and Zenith International Bank Plc (measured by volume), accounted for 260.554 million shares worth N2.790bn in 2,266 deals, contributing 28.15 per cent and 33.48 per cent to the total equity turnover volume and value respectively.
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