Nigeria stocks crash as market capitalisation dips N12.87tn


’Femi Asu

The market capitalisation of equities listed on the Nigerian Stock Exchange fell further last week as 56 firms recorded price depreciation.

The NSE All-Share Index and market capitalisation depreciated by 0.51 per cent to close the week at 35,266.29 basis points and N12.875tn respectively.

Similarly, all other indices finished lower with the exception of the NSE Premium, NSE Lotus II and NSE Industrial Goods indices that rose by 0.59 per cent, 0.23 per cent and 1.29 per cent respectively, while NSE ASeM Index closed flat.

Sixteen equities appreciated in price last week, lower than 20 in the previous week. Fifty-six equities depreciated in price, higher than 47 equities of the previous week, while 97 equities remained unchanged as against 103 in the preceding week.

A total turnover of 1.147 billion shares worth N12.546bn in 16,649 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 925.630 million shares valued at N8.333bn that exchanged hands in 15,565 deals the week before.

The financial services industry (measured by volume) led the activity chart with 891.785 million shares valued at N8.251bn traded in 9,187 deals, thus contributing 77.78 per cent and 65.77 per cent to the total equity turnover volume and value respectively.

The consumer goods industry followed with 79.149 million shares worth N2.631bn in 2,931 deals, while the third place was occupied by conglomerates industry with a turnover of

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