Stock Market Loses N80bn in First Trading Week

Trading activities on the floor of the Nigerian Stock Exchange closed with a loss of N80bn at the end of the first trading week of 2021.

The NSE All-Share Index and market capitalisation depreciated by 0.37 per cent to close the week at 40,120.22 and N20.98 Tn respectively.

However, all other indices finished higher with the exception of NSE Premium, NSE Lotus II and NSE Industrial Goods which depreciated by 2.99 per cent, 1.22 per cent and 2.29 per cent while the NSE ASeM and NSE Growth Indices closed flat.

A total turnover of 3.39 billion shares worth N19.87bn in 26,808 deals were traded last week by investors on the floor of the Exchange, in contrast to a total of 1.81 billion shares valued at N25.97bn that exchanged hands the previous week in 14,634 deals.

The consumer goods industry (measured by volume) led the activity chart with 2.03 billion shares valued at N7.50bn traded in 4,031 deals, thus contributing 59.70 per cent and 37.77 per cent to the total equity turnover volume and value respectively.

The financial services industry followed with 939.29 million shares worth N7.82bn in 14,020 deals. The third place was occupied by the conglomerates industry, with a turnover of 139.88 million shares worth N182.15m in 885 deals.

Trading in the top three equities, namely Champion Breweries Plc, Transnational Corporation of Nigeria Plc and Access Bank Plc (measured by volume), accounted for 2.14 billion shares worth N6.00bn in 1,971 deals, contributing 63.18 per cent and 30.21 per cent to the total equity turnover volume and value respectively.

A total of 50 equities appreciated in price during the week, higher than 32 equities in the previous week; 21 equities depreciated in price, lower than 32 equities in the previous week, while 90 equities remained unchanged, lower than 97 recorded in the previous week.

A total of 196,294 units of ETPs valued at N816.55m were traded this week in 38 deals, compared with a total of 26,141 units valued at N185.33m transacted last week in 35 deals.

https://punchng.com/stock-market-loses-n80bn-in-first-trading-week/

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