Investors lose N464bn as Nigerian stocks extend losing streak

Investors lost N464bn this week as the Nigerian stock market on Friday extended its losing streak to the fifth straight trading session.

The NSE All-Share Index and market capitalisation depreciated by 2.53 percent to close the week at 34,250.74 and N17.902 trillion respectively.

Similarly, all other indices finished lower while the NSE ASeM Index closed flat.

A total turnover of 2.265 billion shares worth N20.990 billion in 23,722 deals were traded this week by investors on the floor of the Exchange, compared with 1.675 billion shares valued at N25.425 billion that exchanged hands last week in 23,650 deals.

The financial services industry (measured by volume) led the activity chart, with 1.884 billion shares valued at N14.933 billion traded in 13,602 deals, thus contributing 83.15 percent and 71.14 percent to the total equity turnover volume and value respectively.

The consumer goods industry followed with 116.400 million shares worth N2.817 billion in 3,474 deals.

The third place was occupied by the conglomerates Industry, with a turnover of 107.803 million shares worth N231.323 million in 897 deals.

Trading in the top three equities, namely Jaiz Bank Plc, United Bank for Africa Plc and Zenith Bank Plc (measured by volume), accounted for 894.000 million shares worth N7.077 billion in 4,045 deals.

They contributed 39.47 per cent and 33.72 per cent to the total equity turnover volume and value respectively.

Thirteen equities appreciated in price during the week, compared with 22 in the previous week; 46 equities depreciated in price, compared with 45 in the previous week, while 102 equities remained unchanged, compared with 94 recorded in the previous week.