Nigerian Stock Market Investors Lose N11.52bn In Five Days

The Nigerian Stock Exchange closed bearish for the week ended Friday, 27th September 2019 as key market growth indices were downturned. The bearish trend was as a result of heavy losses suffered by some blue-chips stocks such as; Stanbic IBTC Bank, Presco Plc and Cement Company of Northern Nigeria Plc.   

The NSE All-Share Index (ASI) was down by -0.09% to close at 27,698.69 basis points Week-to-Date. The NSEASI Year-to-Date currently stands at -11.95%.  

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SEPLAT Petroleum Development Company Plc was the best performing stock for the week. The stock gained N96.69 to close at N556.60. Seplat Petroleum was up by 21% for the week. Continental Reinsurance Plc advanced by 20.38% to close at N1.89.

     

Total Nigeria Plc completes the top three traded stocks for the week. The stock appreciated by 20% to close at N120.  

A total turnover of 1.097 billion shares was traded this week by investors on the floor of the exchange market worth N16.693 billion. This is in contrast to 1.272 billion shares that exchanged hands last week by investors valued at N18.750 billion traded in 19,482 deals.  

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On the flip side, Learn Africa Plc was the worst-performing stock for the week. The bluechip stock was down by 19.42% to close at N1.12. UACN Property Development Company Plc declined by 18.31% to close at N1.16. NPF Microfinance Bank Plc rounds up the top three losers chart for the week. The financial firm dips by 12% to close at N1.10.  

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The Financial Services Industry, The Consumer Goods Industry and the Conglomerates Industry led the volume activity chart for the week, contributing N6.41 billion, N8.53 billion and  N203.24 million respectively to the total market equity.  

Source: https://financialmetricsnigeria.com/nigerian-stock-market-investors-lose-n11-52-billion-in-five-days-as-the-bourse-market-continues-bleeding/