Equity market loses N516bn on waning investors’ interests

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Investors on the Nigerian Exchange Limited lost N516bn in one week of trading as the volume of trade tumbled by 65.76 per cent.

With the exchange opened for only four days of trading in the past week due to a public holiday, the total turnover of shares was 1.339 billion shares worth N17.916bn which were traded in 27,874 deals. In the previous week, investors on the floor of the exchange traded a total of 3.911 billion shares valued at N30.379bn which exchanged hands in 38,536 deals.

Financial Services Industry led the activity chart with 940.539 million shares valued at N11.370bn traded in 14,627 deals; thus contributing 70.25 per cent and 63.46 per cent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 95.954 million shares worth N584.249m in 1,760 deals. The third place was the Oil and Gas Industry, with a turnover of 69.323 million shares worth N782.269m in 1,688 deals.

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