Local stock market decline by 0.7 per cent WoW as investors lost N189bn

The Nigerian equities market closed bearish last week ended September 9, 2022, as the All-Share Index declined by 0.70 per cent in the week to reverse the 0.73 per cent growth recorded in the previous week.

Equities investors, therefore, lost NN189 billion from their net worth over the five-day trading sessions.

According to data from the Nigerian Exchange Group (NGX), the benchmark index, ASI, depreciated by 0.70 per cent from 50,045.83 basis points recorded as of the end of last week to close the week at 49,695.12 index points, while the market capitalisation followed suit to close at N26.805 trillion as against previous week’s loss of N26.994 trillion.

This brings the month-to-date performance of the Nigerian stock market to a negative 0.28 per cent and a year-to-date gain of 16.34 per cent.

A total of 949.819 million shares valued at N9.329 billion were traded during the week across 18,525 deals on the floor of The Exchange. This is greater than the 1.195 billion units of shares valued at N12.924 billion that exchanged hands in the previous week in 19,305 deals.

Similar to the previous week, the Financial Services Industry led the activity chart in terms of volume of shares traded with 735.300 million shares valued at N4.133 billion traded in 10,186 deals; thereby contributing 77.41 per cent and 44.30 per cent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 69.775 million shares worth N191.041 million in 570 deals, while the ICT Industry stood in third place with a turnover of 44.439 million shares worth N2.875 billion in 1,744 deals.

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