BEVERLY HILLS, March 07, (THEWILL) – Investors in the Nigerian equity market lost N314 billion in the first week of the month ending Friday, March 5, 2021, as trading closed in the negative territory compared to the previous days’ performance. Data from the Nigerian Stock Exchange (NSE) shows that market capitalization for the last trading week day (Friday March 5) was N20.57 trillion as against N20.89 trillion on the first trading of the month – March 1, 2021.
Similarly, the NSE All-Share Index (NSE-ASI) of 39,931.63 recorded on March 1, dipped 1.5 per cent to 39,331.61 on Friday, March 5, to close for the week’s activities.
The downward trend was consistent during the week with market capitalization dropping to N20.76 trillion (from N20.89 trillion the previous day) to decline further to N20.67 trillion on Wednesday, March 3. Trading on Thursday March 4, also closed negative as market capitalization dipped N83 billion to N20.59 trillion before it dipped further south to N20.57 trillion on Friday, March 5.
A total of 587,742,048 shares in 4,895 deals, corresponding to a market value of N13.61 were traded at the last weekday of trading on the Nigerian bourse Friday, March 5. Compared with the previous trading day (Thursday, March 4), Friday’s data shows 19 per cent improvement in volume, 188 per cent improvement in turnover, but 11 per cent decline in deals.
In the aggregate, 106 NSE listed equities participated in trading, ending with 20 gainers and 27 losers. Morison Industries led the gainers with 10 per cent share price appreciation followed by Lafarge Wapco, N.E.M. Insurance Company and Skyway Aviation Handling Co.
On the losing side, Tripple Gee & Co. came out last followed by Trans-Nationwide Express, Union Homes Real Estate Inv. AXA Mansard Insurance recorded the highest volume of 282.3 million traded shares, followed by Zenith Bank, FBN Holdings.
