The level of activity at the Nigerian Exchange (NGX) Limited depreciated last week after a turnover of 3.575 billion shares worth N107.011 billion in 146,429 deals compared with the 7.479 billion shares valued at N145.429 billion traded in 159,487 deals in the preceding week.
This was buoyed by a loss in interest in local equities by investors amid fears that the United States may carry out a military action to flush out terrorists from Nigeria.
This weakened the All-Share Index (ASI) by 2.99 per cent on a week-on-week basis to 149,524.81 points and shrank the market capitalisation by 2.89 per cent to N94.998 trillion.
Similarly, all other indices finished lower in the five-day trading week, while the sovereign bond index closed flat.
Business Post reports that the activity chart was led in the week by the financial services industry with 2.946 billion units sold for N65.904 billion in 62,817 deals, contributing 82.39 per cent and 61.59 per cent to the total trading volume and value, respectively.
The services sector transacted 147.325 million units worth N1.511 billion in 7,656 deals, and the consumer goods segment traded 147.307 million units valued at N11.195 billion in 18,644 deals.
The trio of Fidelity Bank, FCMB Group, and Aso Savings & Loans were the most active with 1.288 billion equities sold for N19.300 billion in 11,536 deals, contributing 36.03 per cent and 18.08 per cent to the total trading volume and value apiece.
A total of 20 stocks appreciated versus 29 stocks a week earlier, 75 equities depreciated versus 70 equities in the previous week, and 51 shares closed flat versus 47 shares in the preceding week.
NCR Nigeria gained 20.94 per cent to trade at N19.35, Eunisell jumped by 20.17 per cent to N70.90, Union Dicon appreciated by 9.93 per cent to N7.75, Honeywell Flour rose by 9.50 per cent to N21.90, and UPDC grew by 6.81 per cent to N6.59.
However, Sovereign Trust Insurance lost 28.21 per cent to close at N2.80, C&I Leasing declined by 20.16 per cent to N5.03, SAHCO slipped by 18.99 per cent to N80.60, Berger Paints deflated by 17.41 per cent to N35.10, and International Energy Insurance crumbled by 17.01 per cent to N2.44.