Investors groan as Nigerian stocks depreciates in price

March 15, 2021
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The Nigerian stock market closed the 6th week on a bearish note as 38 stocks depreciated in price, 89 stocks’ prices remained unchanged, and only 35 equities appreciated during the week.

The NSE All-Share Index (ASI) which tracks the general market movement of all listed equities on the NSE, including those listed on the Alternative Securities Market (ASeM), depreciated by 1.74% at the end of the week, closing at 38,648.48 when compared to its closing unit of 39,331.61 in the prior week.

This fall cumulated to a total year-to-date depreciation of 4.03% of the Index.

Besides the fall in the NSE ASI, other indices in the market followed a similar trend except for the following indices which saw some marginal increase, and the NSE Sovereign Bond Index which closed flat at the end of the week:

During the week, the highest traded sectors by volume were the financial services industry, consumer goods industry, and the industrial goods industry.

For the financial services industry, 1.2 billion shares (N10.27 billion) were traded, which represents 72% of the total traded volume on the NSE during the week.

The Consumer goods industry followed as the largest traded sector with 110.56 million shares (N3.58 billion), representing about 6% of the total traded volume in the market.

The Industrial goods industry was in third place, with a turnover volume of 99.76 million shares (N5.32 billion), also representing about 6% of the total traded volume in the market.

During the week ended 12th March, 2021, a total of 217,600 units of ETFs were traded on the NSE. 117,365 of these units were MERVALUE, while 100,231 units and 4 units of VETGRIF30 and NEWGOLD were traded respectively.

The total value of ETFs traded was N3.70 million; 54.97% of this was from MERVALUE, 44.16% was from VETGRIF30, while the remaining 0.87% was from NEWGOLD.

The remaining 9 ETFs of the 12 ETFs listed on the NSE were not traded during the week.

A total of 9,192 units of bonds valued at N10.67 million were traded during the week ended 12th March, 2021, through 6 separate deals on the NSE. This represents an increase of 102% compared to the 4,550 units (N4.86 million) traded in the prior week through 8 deals.

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