Coronavirus: Stock Market Down By 4.28%

Nigerian stocks for the first time since April 2019 suffers a great weekly loss last week as the country confirmed her first coronavirus case. 

Noteworthily, the Nigerian Stock Exchange ended on a negative note on Friday as many investors sold off their shares because of the regulatory pressures and Coronavirus outbreak confirmed in the country.

From the record, the NSE All-Share Index and Market Capitalisation dropped by 4.28% to close the week at 26,216.46 and N13.658tn respectively.

Also, apart from NSE Industrial Goods index which appreciated by 1.08%, the NSE ASeM Index and other indices closed flat.

Last week, the total turnover of 1.55 billion shares worth N24.26bn was recorded by investors in 21,646 deals on the floor of the exchange thereby recording 1.5 billion shares at N17.91bn which is equivalent to 8,515 deals made the previous weeks.

The financial services industry chart read 1.267 billion shares at N17.205bn in 15,149 deals; therefore contributing 81.91% and 70.91% to the total equity turnover volume and value respectively, followed by 84.990m shares worth N180.885m in 654 deals and the consumer goods industry, with a turnover of 65.965 million shares worth N3.918bn in 2,235 deals.

Also, Guaranty Trust Bank Plc, United Bank for Africa Plc, and Zenith Bank Plc. also recorded 800.054 million shares worth N14.972 billion in 8,379 deals, contributing 51.72% and 61.70% to the total equity turnover volume and value respectively.

According to the record, unlike the 24 equities that appreciated in the previous week, last week, only Six equities appreciated and 58 equities depreciated, higher than 28 equities in the previous week, while 99 equities remained unchanged, lower than 111 equities recorded in the preceding week.

Finally, the NSE recorded a total of 8,2 50 units valued at N69.155.40m last week in 14 deals, which contrast the total of 1,040 units valued at N3.606m transacted the previous week in 12 deals while the total of 6,321 units of Federal Government Bonds valued at N7.194m was also recorded in 28 deals last week contrasting the total of 40,469 units valued at N47.681m transacted the previous week in 25 deals.