Nigerian stocks post first weekly loss in 2023
The Nigerian stock market closed lower this week despite recording gains in three days of the four-day trading week.
The Nigerian Exchange Limited All-Share Index and market capitalisation depreciated by 0.06 percent to close the week at 51,222.34 and N27.899 trillion respectively.
All other indices finished higher with the exception of NGX Main Board, NGX Industrial Goods and NGX Sovereign Bond indices, which depreciated by 0.54 percent, 0.58 percent and 0.09 percent respectively, while the NGX ASeM index closed flat.
A total turnover of 921.856 million shares worth N27.154 billion in 15,601 deals was traded this week by investors on the floor of the exchange, in contrast to a total of 1.880 billion shares valued at N18.988 billion that exchanged hands last week in 12,036 deals.
The financial services industry (measured by volume) led the activity chart with 616.527 million shares valued at N6.452 billion traded in 7,208 deals, thus contributing 66.88 percent and 23.76 percent to the total equity turnover volume and value respectively.
The industrial goods industry followed with 138.314 million shares worth N13.356 billion in 1,063 deals, while the third place was occupied by the conglomerates industry, with a turnover of 55.931 million shares worth N92.845 million in 502 deals.
Trading in the top three equities, namely FBN Holdings Plc, BUA Cement Plc and Guaranty Trust Holding Company Plc (measured by volume), accounted for 450.338 million shares worth N17.203 billion in 1,862 deals, contributing 48.85 percent and 63.35 percent to the total equity turnover volume and value respectively.
“Thirty-eight equities appreciated in price during the week, lower than 44 equities in the previous week. Seventeen equities depreciated in price higher than 16 in the previous week, while 102 equities remained unchanged, higher than 97 equities recorded in the previous week,” the NGX said.
