Market cap drops to N25.41trn

Nigerian scholarship


The market capitalization of shares listed on the Nigerian Exchange Limited fell 0.12% to close at 25.41 billion naira last week.

The NGX All-Share Index also fell 0.13% to close at 47,140.48 basis points.

However, all the other indices ended higher, except for NGX Premium, NGX Banking, NGX AFR Bank value, NGX Oil & Gas and NGX Industrial Goods which depreciated by 0.29%, 0.74%, 0.86%, 3.45%, and 0.32% respectively, while the NGX Main Board, NGX Asem, NGX Growth and NGX Sovereign Bond indices closed flat.

According to NGX, 43 stocks rose during the week, compared to 44 stocks the previous week.

Thirty-eight stocks depreciated from 31 the previous week, while 75 stocks were unchanged from 81 the previous week.

The NGX Market Weekly Report showed that a total turnover of 1.713 billion shares worth N30.76 billion in 24,767 trades was traded during the week by investors on the floor of the Stock Exchange, against 1.331 billion shares valued at 22.7 billion naira that traded hands in 27,822 bids the previous week.

The financial services sector (measured by volume) leads the business chart with 1.064 billion shares valued at N12.2 billion traded in 11,708 transactions, contributing 62.14% and 39.66% respectively to the volume and the value of the total turnover of the shares.

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The consumer goods industry followed with 156.077 million shares worth N5 billion in 4,877 deals.

Third place was taken by the conglomerate industry, with turnover of 113.554 million shares worth N309.83 million in 1,062 transactions.

Trading in the top three stocks, namely Access Bank Plc, Guaranty Trust Holding Company Plc and Fidelity Bank Plc, (measured by volume) accounted for 500.778 million shares worth N7.46 billion in 3,603 transactions, contributing 29.23% and 24.23% to the total share turnover volume and value, respectively.

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