Airtel led the losers table with shares falling ₦133.10 to end the week at ₦1,198.00. Hallmark also dropped by 13.64% to close at 0.57k, while Neimeth lost 10.34% to close at ₦1.30.
Investors on the Nigerian Exchange Ltd (NGX), lost over ₦601 billion this week, as negative sentiments persisted and caused the total NGX market capitalisation and NGX All-Share Index (ASI) to fall by 2.08% apiece.
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At the close of the week’s trading session, the overall market value, which opened on Tuesday, April 11, at ₦28.87 trillion, dropped to ₦28.27 trillion on Friday, April 14
Also, the ASI fell to 51,893.94 basis points (bps) after it opened at 52,994.13bps.
Losers And Gainers
Notable stocks that drove the market down on the floor of the NGX were Airtel Africa, Consolidated Hallmark Insurance and Neimeth International Pharmaceuticals.
At the close of the week’s trading session on Friday, April 14, a total turnover of 2.824 billion shares worth ₦10.964 billion in 15,686 deals was traded.
This is higher than the 1.054 billion shares valued at ₦10.050 billion in the previous week.
However these 1,054 billion shares exchanged hands in 16,155 deals.
The conglomerates industry (measured by volume) led the activity chart with 1.797 billion shares valued at ₦2.495 billion traded in 931 deals, and contributed 63.65% and 22.76% to the total equity turnover volume and value, respectively.
The financial services industry followed with 590.745 million shares worth ₦5.615 billion in 7,869 deals, while the ICT industry returned a turnover of 313.737 million shares worth ₦1.213 billion in 1,340 deals.
While the year-to-date return declined to 1.25% from 3.40%, sector performance was largely on the decline across the indices tracked.
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The banking index fell by 6.28bps to close at 448.23bps, the NGX insurance index dropped by 3.19bps to close at 181.40bps.
Also, NGX industrial index dropped by 9.93bps to close 2,455.43bps.
While the consumer goods index gained 0.34bps to close at 698.37bps, the oil and gas index closed flat.
