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Investors Lost N21bn As Share Prices Of 45 Companies Drop In One Week

Stock market investors on the Nigerian Exchange Limited (NGX) lost N21bn in the past week after low investor sentiments dragged market capitalization down by 0.04 per cent.

The All-Share index which measures how well a market is performing fell slightly to 100,023.03 on July 5, 2024, compared to the 100,057.49 which it was as of the close of trade on June 28, 2024.

Market capitalization fell from N56.602tn on June 28, 2024, to N56.581tn, resulting in N21bn loss for investors, according to data obtained on the NGX website.

Investors on the floor of the NGX traded a total turnover of 2.259 billion shares worth N31.166bn in 42,851 deals.

The trade is lower than the performance on June 28, 2024, where 2.651 billion shares valued at N49.976bn exchanged hands in 41,610 deals.

The best-performing sector last week was the financial services industry, which led the activity chart by volume with 1.801 billion
shares valued at N22.03bn traded in 23,112 deals.

The sector contributed 79.75 per cent and 70.69 per cent to the total equity turnover and value respectively.

The oil and gas industry followed with 121.001 million shares worth N1.771bn in 3,124 deals, while the Conglomerates Industry recorded a turnover of 90.713 million shares worth N1.081bn in 2,277 deals.

The shares of Fidelity Bank Plc, Universal Insurance Plc and Guaranty Trust Holding Company Plc accounted for 909.821 million shares worth N12.057bn in 4,798 deals.

Trading on their shares contributed 40.28 per cent and 38.69 per cent to the total equity turnover and value respectively.

Last week, all NGX indices traded higher except the NGX 30, NGX Premium, NGX MERI Value, NGX Consumer Goods, NGX Lotus II, and NGX Pension Broad which depreciated by 0.27 per cent, 0.52 per cent, 0.01 per cent, 0.69 per cent, 0.56 per cent and 0.07 per cent respectively.

The NGX ASeM and NGX Sovereign Bond indices closed flat.

This led to the shares of 37 companies appreciating in price during the week but lower than 48 equities which appreciated on June 28.

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