Stocks extend weekly loss with N111bn

Weekly performance of equities in the Nigerian capital market has brought a fresh turn of loss to investors as the market again closed on the red territory, shedding N111 billion in the last four trading sessions.

The recorded loss further devalued the NSE All-Share Index (ASI) by 320.64 index points to close at 25,189.37 basis point and the market capitalisation to end the week of four trading sessions lower at N8.716 trillion, both depreciating by 1.26 per cent.

Similarly, all other indices finished lower during the week with the exception of the NSE ASeM, NSE Oil/Gas and the NSE Pension Indices that appreciated by 0.06 per cent, 0.60 per cent and 0.36 per cent respectively.

Meanwhile, a total turnover of 896.748 million shares worth N5.918 billion in 11,185 deals were traded this week by investors on the floor of the exchange in contrast to a total of 1.191 billion shares valued at N6.037 billion that exchanged hands last week in 11,820 deals.

The Financial Services Industry, measured by volume, led the activity chart with 688.971 million shares valued at N3.637 billion traded in 6,374 deals; thus contributing 76.83 per cent and 61.46 per cent to the total equity turnover volume and value respectively.

The Conglomerates Industry followed with 105.516 million shares worth N207.182 million in 944 deals.

The third place was occupied by Consumer Goods Industry with a turnover of 45.172 million shares worth N1.139 billion in 1,569 deals.