New Telegraph

February 24, 2024

NGX Benchmark Index ends week in red, falls by 2.09%

The Nigerian Exchange Limited (NGX) All- Share Index and Market Capitalisation depreciated by 2.09 per cent to close the week at 49,664.07 and N26.787 trillion respectively.

 

Similarly, all other indices finished lower with the exception of NGX Insurance, NGX Consumer Goods and NGX Growth Indices, which appreciated by 6.00 per cent, 3.00 per cent and 1.56 per cent while, NGX ASeM index closed flat.

 

A total turnover of 1.511 billion shares worth N13.547 billion in 20,074 deals was traded last week by investors on the floor of the Exchange, in contrast to a total of 705.636 million shares valued at N12.850 billion that exchanged hands the upper week in 22,124 deals.

The Financial Services Industry (measured by volume) led the activity chart with 680.202 million shares valued at N4.672 billion traded in 9,230 deals; thus contributing 45.02 per cent and 34.48 per cent to the total equity turnover volume and value respectively. The Services Industry followed with 499.178 million shares worth N3.407 billion in  866 deals.

 

The third place was the ICT Industry, with a turnover of 113.804 million shares worth N2.246 billion in 2,083 deals. Trading in the top three equities namely Capital Hotel Plc, FBN Holdings Plc and Jaiz Bank Plc (measured by  volume) accounted for 763.836 million shares worth N5.130 billion in 1,025 deals, contributing 50.55 per cent and 37.87 per cent to the total equity turnover volume and value respectively. Thirty- three equities appreciated in price during the week, lower than 41 equities in the previous week.

 

Twenty- six equities depreciated in price higher than 22 in the previous week, while 97 equities remained unchanged higher 93 equities recorded in the previous week.

 

On Friday, renewed selloffs in industrial heavyweights, BUACEMENT (-9.95 per cent) and DANGCEM (-2.34 per cent) were the major drivers of the weak overall market’s performance on Friday

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