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Nigerian stock investors lost N189 billion in past week amid profit taking

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At the end of last week’s trading on the Nigerian Exchange Limited, investors lost N189 billion.
The market capitalization of equities on the NGX and the NGX All-Share Index declined last week by 0.7 percent to close at 49,695.12 index points and N26.805 trillion, respectively.

In contrast, NGX Insurance, NGX MERI Value, and NGX Consumer Goods Indices ended higher by 1.04 percent, 0.87 percent, and 0.72 percent, respectively. However, the NGX ASeM index ended flat.
A total of 22 equities appreciated in price this week, down from 43 equities last week.

There were 36 depreciating equities, compared to 21 in the previous week, while 98 equities remained unchanged, compared to 92 equities in the previous week. NGX’s weekly market report shows that last week, 949.819 million shares worth N9.329 billion were traded on its floor in 18,525 deals, which is a significant change from a total turnover of 1.195 billion shares worth N12.924 billion last week in 19,305 transactions.

Financial Services (measured by volume) led the activity chart with 735.3 million shares worth N4.133 billion traded in 10,186 deals, contributing 77.41 percent and 44.30 percent, respectively, to the total equity turnover.

In 570 deals, 69.775 million shares worth N191.041m were traded in the Conglomerates Industry. With a turnover of 44.439 million shares worth N2.875 billion in 1,744 deals, the ICT Industry took third place.

As measured by volume, trading in Sterling Bank Plc, United Bank for Africa Plc, and Transnational Corporation Plc accounted for 472.701 million shares worth N1.164 billion in 2,333 deals, corresponding to 49.77 percent and 12.48 percent of the total equity turnover value.

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