Stock trading volume crashes by 78%, investors lose N51bn

Stock trading volume crashes by 78%, investors lose N51bn

On Monday, stock market activity fell by 77.99 percent in terms of trading volume and 73.49 percent in terms of share value, with investors losing N51.03 billion when trading finished.

The Nigerian Exchange Limited All-Share index, formerly known as the Nigerian Stock Exchange All-Share index, fell 0.25 percent to settle at 38,864.33 basis points, down from 38,962.28 basis points. Stock market capitalization fell from N20.30 trillion to N20.25 trillion on the prior trading day.

The exchange traded 139.45 million shares worth N1.71 billion in 3,539 deals, compared to 633.52 million shares worth N6.45 billion in 3,2228 trades. The NGX Industrial and Insurance indices fell by 1.10 percent and 2.34 percent, respectively.

Sovereign Trust Insurance Plc was the most traded stock in terms of volume, accounting for 13.68 percent of all deals, while MTN Nigeria Plc was the most traded stock in terms of value, accounting for 27.15 percent of all trades.

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At the end of trading on the NGX floor, 20 equities appreciated in price, while 12 businesses lost money, indicating a positive market sentiment as assessed by market breadth. University Press Plc was the top gainer, up 9.80% to N1.12 per share. Transcorp Hotels Plc was close behind, rising 9.70% to N5.43 per share.

Courtville Business Solutions Plc (+9.38%), Oando Plc (+6.07%), and Cutix Plc (+5.38%) were among the biggest gainers on Friday. AXA Mansard Insurance Plc topped the losers’ chart with a 9.94% loss in share price to settle at N2.99 per share. Losses were also reported by Chams Plc, Sovereign Trust Insurance, Mutual Benefits Assurance, and BUA Cement Plc, all of which contributed to the market’s drop.

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