NGX market cap closes at ₦59.121 trillion as investors lose ₦48 billion

Specifically, investors lost a total of ₦48 billion in the four trading sessions, making the market capitalisation to close at ₦59.121 trillion from ₦59.169 trillion at the beginning of the week.

Similarly, the NGX All-Share Index also depreciated by 0.08% or 85.31 points to close the week at 104,562.06, compared to 104,647.37 recorded last week.

International Breweries Plc, Dangote Sugar Refinery Plc, led 29 other declining equities in the downturn performance. International Breweries lost 74k to close at ₦4.45, Dangote Sugar shed ₦7 to close at ₦52, Guinea Insurance declined by 4k to close at 35k per share.

Northern Nigeria Flour Mills Plc went down by ₦5.35 to close at ₦48.30, FTN Cocoa Processors depreciated by 16k to close at ₦1.60 per share, among other declining equities. Conversely, Computer Warehouse Group Plc led 39 equities on the gainers’ table with a gain of ₦1.55 to close at ₦7.50, and Morison Industries Plc rose by 35k to close at ₦1.76 per share.

Juli Plc appreciated by ₦1.63 to close at 9.49, SUNU Assurances grew by 20k to close at ₦1.36 and Consolidated Hallmark Holdings gained 23k to close at ₦1.63 per share, among other advancing equities.

During the week, investors traded a total turnover of 1.804 billion shares worth ₦52.040 billion in 38,550 deals, contrasting with 1.735 billion shares valued at ₦48.755 billion traded in 45,237 deals the previous week.

As recorded in previous weeks, the financial services industry measured by volume led the activity chart again with 1.329 billion shares valued at ₦32.924 billion traded in 20,897 deals.

These, therefore, contributed 73.65% and 63.27% each to the total equity turnover volume and value, respectively. The conglomerate's industry followed with 106.728 million shares worth ₦1.467 billion in 2,368 deals. The third place was the Consumer Goods industry, with a turnover of 87.708 million shares worth ₦4.220 billion in 4,731 deals.

Trading in the top three equities namely Guaranty Trust Holding Company Plc, Zenith Bank Plc and Access Holdings Plc, measured by volume accounted for 589.939 million shares worth ₦23.276 billion in 8,166 deals. This indicated a contribution of 32.70 and 44.73% to the total equity turnover volume and value, respectively.

On Exchange Traded Products (ETP), a total of 20,189 shares valued at ₦11.363 million were traded this week in 210 deals, compared to 10,560 valued at ₦131.549 million transacted last week in 184 deals.

On bonds, a total of 61,447 shares valued at ₦60.237 million were traded this week in 27 deals compared with a total of 68,735 shares valued at ₦71.382 million transacted last week in 20 deals.

However, all other indices finished higher except NGX Main Board, NGX 30, NGX Consumer Goods and NGX Growth which depreciated by 0.28, 0.16, 0.97 and 0.14% respectively, while the NGX Oil and Gas and NGX Sovereign Bond indices closed flat.

Also, 40 equities appreciated during the week lower than 50 equities in the previous week. 31 equities also depreciated lower than 32 in the previous week, while 83 equities remained unchanged, higher than 72 recorded in the previous week.

As part of corporate action by listed companies on the Exchange, seven companies declared a dividend for their shareholders in the week. Total Energies proposed to pay ₦25 for every 50k ordinary shares for its 2023 financial year on June 24, Access Holdings declared to pay ₦1.80 dividend per 50k ordinary shares on April 19.

United Capital Plc announced to pay ₦1.80 as a dividend on April 23, SFS Real Estate Investment Trust proposed ₦14.50 as a dividend to be paid on May 14, Chemical and Allied Products Plc also declared to pay an ₦1.55 dividend qualified for payment on May 3.

Meyer Plc declared a 30k dividend for its shareholders to be paid on May 27, Trans-nationwide Express Plc Proposed a 2k dividend for payment on June 11 and Infinity Trust Mortgage Bank declared a 15k dividend for payment on May 13.