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Nigeria’s capital market in red as shareholders reduce investment

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The Nigerian capital market ended the week in the negative territory as investors traded 1.278 billion shares worth N17.340 billion in 21,052 deals.

This was below the 3.435 billion shares valued at N30.915 billion that exchanged hands in 21,109 deals last week.

Based on the volume of trades, the Financial Services Industry, Consumer Goods Industry, and Conglomerates Industry are the top three performing sectors during the week.

With 984.543 million shares valued at N10.247 billion and traded in 11,029 deals, the Financial Services Industry led the trading activity.

Consumer Goods Industry followed with 78.724 million shares worth N2.328 billion in 3,137 deals, while Conglomerates Industry recorded 48.730 million shares valued at N69.840 million in 647 deals.

First Bank Nigeria Holdings Plc, Guaranty Trust Holding Company (GTCO) Plc, and Access Bank Plc are the top three equities based on volume, according to the Nigeria Exchange Group (NGX) trading report.

The three lenders contributed 36.82 percent and 37.90 percent to the total equity turnover by volume and value respectively.

Investors traded 470.731 million shares worth N6.571 billion in 3,887 deals across First Bank, GTCO and Access Bank within five days.

NEM Insurance share price rose by N0.35kobo to jump from N1.90kobo to N2.25kobo per share.

Meyer Plc gained 10 percent to end the week with N0.22kobo per share from the opening price of N0.20kobo.

Linkage Assurance share price rose by 9.80 percent to close the week with N0.56kobo from N0.51kobo per share.

Prestige Assurance stock price increased by 8.51 percent to move from N0.47kobo to N0.51kobo per share at the end of the week.

Academy’s share price appreciated by 8.33 percent to close at N0.39kobo from N0.36kobo recorded at the beginning of the week.

UPDC topped the losers list following a loss of N0.32kobo to drop from N1.31 kobo to N0.99kobo.

Consolidated Hallmark Insurance share price dropped from N0.55kobo to N0.44kobo after losing N0.11kobo in share price.

UPDC REIT’s share price was down by N0.95kobo to end the week with N4.10kobo per share against the opening price of N5.05 per share posted at the beginning of the week.

FTN Cocoa share value fell by 12.50 percent to drop from N0.40kobo to N0.35kobo per share. MTN lost N23 in share price to end the week with N167 from N190 per share.

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