Stock market extends weekly decline, investors lose N20bn

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Trading activities on the floor of Nigerian Stock Exchange closed on a negative note last week as the All-Share Index depreciated by 0.08 per cent to 25,572.57 basis points.

All other indices finished lower, with the exception of NSE Main Board, NSE Pension, NSE Insurance, NSE Meri Growth, NSE Consumer Goods, NSE Lotus II and NSE Industrial Goods Index, which appreciated by 0.13 per cent, 0.06 per cent, 0.01 per cent, 0.17 per cent, 0.13 per cent, 0.19 per cent and 0.50 per cent respectively. The NSE ASeM Index closed flat.

The financial services industry led the activity chart with 870.30 million shares valued at N7.86m traded in 9,43 deals, thus contributing 76.43 per cent and 61.95 per cent to the total equity turnover volume and value respectively. Trading in the top three equities, namely FBN Holdings Plc, Guaranty Trust Bank Plc and Access Bank Plc, accounted for 353.05 million shares worth N4.02bn in 3,095 deals, contributing 31 per cent and 31.66 per cent to the total equity turnover volume and value respectively.

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