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…as bond market cap closes in on equities
Stocks listed on the Nigerian Stock Exchange recorded N303.75 billion losses in the first week of July, as the market capitalisation closed at N12.90 trillion on July 5 as against N13.21 trillion in the preceding week. The All Share Index (ASI) ended the week at 29,270.95 points which amounted to -2.32 percent decline and -6.87 percent year to depreciation in the values of equities.
Among the sectoral indexes, the NSE Meri value Index which closed at 1,123.40 points is the worst hit as year to date, the index has depreciated by -23.29 percent. It is followed by the NSE Consumer Goods Index that closed 604.68 points last Friday representing -2.84 percent week to date and -19.25 percent year to date decline.
Interestingly, the bond market capitalisation is closing the gap between it and equity market capitalisation as the former is presently higher at N707.83 billion. The bond market capitalisation ended the week at N12.19 trillion last Friday.
Investors traded 1.025 billion shares worth N9.91 billion in 19,375 deals last week compared with 1.77 billion shares worth N28.03 billion in 18,660 deals that were executed in the previous week.
Traders also executed 12,375 units of ETPs valued at N6.22 million shares in 8 deals last week as against 505,460 units estimated at N39.28 million in 27 deals during the previous week.
A total of 1.007 million units of FGN bonds exchanged hands valued at N1.02 billion in 14 deals last week compared with 47,212 units valued at N49.97 million in the preceding week.