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Stock market halts weekly gains, investors lose Naira 470 billionNews

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Johnson okafor

Activity on the Nigerian Stock Exchange floor closed on a negative note last week, with the All-Share index and market cap depreciating 2.57% to end the week at 34,136.82 and 17.84 tonnes respectively.

Likewise, all other indices finished lower, with the exception of the NSE Insurance index which appreciated 0.51 percent while the NSE ASeM index closed its doors.

A total turnover of 11.40 billion shares worth 35.89 billion naira in 39,265 transactions was traded last week by investors on the stock exchange floor, compared to 4.51 billion d shares valued at 58.73 billion naira which traded hands the week before in 47,140 trades.

The construction / real estate sector (measured by volume) leads the activity graph with 8.53 billion shares valued at 6.05 billion naira traded in 438 deals, thus contributing to 74, respectively. 82% and 16.87% to the volume and total value of share turnover.

The financial services sector followed with 1.99 billion shares worth 19.93 billion naira in 21,725 ​​transactions. Third place was occupied by the conglomerate industry, with a turnover of 423.70 million shares worth 526.69 million naira in 1,962 transactions.

Transactions in the three main stocks, namely UAC-Property Development Company Plc, Transnational Corporation of Nigeria Plc and Jaiz Bank Plc (measured by volume), accounted for 9.259 billion shares worth 6.64 billion naira in 1958 transactions, contributing 81.22% and 18.50%. cent to volume and total value of turnover.

Twenty-one stocks appreciated during the week, below 69 stocks the week before; 55 shares depreciated in price, or more than 12 shares the previous week, while 85 shares remained unchanged, above 80 recorded the previous week.

A total of 21,455 units of ETP valued at 174.67 million naira were traded last week in 15 deals, compared to a total of 986,941 units valued at 4.69 billion naira traded the previous week in 62 deals.

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