Coronavirus: Stock Market Loses N280bn In One Week

Coronavirus: Stock Market Loses N280bn In One Week
Coronavirus: Stock Market Loses N280bn In One Week

The Nigerian Stock Exchange Equity trading ended on a negative note last week amid the spread of the global pandemic, COVID-19, in the country.

The NSE All-Share Index and market capitalization both depreciated by 2.35% to close last week at 22,198.43 basis points and N11.568tn respectively.

According to the weekly analytic report, All other indices apart from the NSE Insurance and the NSE Oil/Gas, appreciated by 0.29%, 2.80%, and 0.22% respectively while the NSE ASeM Index closed flat.

READ ALSO: UK: Boris Johnson Orders Lockdown Over COVID-19

NSE traded turnover of 2.804 billion shares worth N32.56bn in 31,715 deals compared to a total of 3.964 billion shares valued at N43.70bn traded in the previous week in 26,054 deals.

Measured by volume, the financial services industry led the chart with 2.508 billion shares valued at N25.29bn traded in 23,243 deals, thereby contributing 89.44% and 77.68% to the total equity turnover volume and value respectively.

The conglomerates followed with 60.873 million shares worth N105.95m in 767 deals. The third place was occupied by the services industry, with a turnover of 51.296 million shares worth N117.55m in 350 deals.

However, Zenith Bank Plc, Guaranty Trust Bank Plc, and FBN Holdings Plc recorded 1.635 billion shares worth N21.28bn in 15,631 deals, contributing 58.32% and 65.37% to the total equity turnover volume and value respectively.

Thirty-five equities appreciated at price during the week, higher than two equities in the previous week; and 27 equities depreciated in price, lower than 64 equities in the previous week with the total of 15,121 units valued at N87.77m were traded last week in seven deals, compared with a total of 75,285 units valued at N472.95m transacted the previous week in six deals.

A total of 16,204 units of Federal Government Bonds valued at N19.10m were traded last week in eight deals, compared with a total of 62,290 units valued at N71.46m transacted the previous week in 18 deals.

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