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Equities lose N994bn in 10 days

This is evidenced by equities losing a total of N994 billion of their value in the ten in the month of October.The market for the…

This is evidenced by equities losing a total of N994 billion of their value in the ten in the month of October.
The market for the month began on a losing note as the market capitalisation, an indicator that measures the total value of all 200 listed equities in the market, depreciated by 7.31 per cent.
The market capitalisation opened the month with N13.607 trillion to close on Friday at N12.613 trillion.
In the same vein, the NSE All Share Index also depreciated significantly during the period under review by 3,012.37 basis points or 7.31 per cent from 41,210.10 points it opened the month with and closed at 38,197.73 points on Friday.
Although, many players in the market were not moved by the current position of the market, believing it would bounce back after 2015 elections.
Even so, the equities ended last week with N742 billion from N13.355 trillion to end with N12.613 trillion, while the NSE All Share Index depreciated by 2,246.66 basis points to close at 38,197.73 points from 40,444.39 points it opened the week.
At the end of the week, a turnover of 1.885 billion shares worth N23.732 billion in 24,705 deals were traded by investors on the floor of the exchange in contrast to a total of 1.351 billion shares valued at N14.471 billion that exchanged hands previous week in 14,680 deals.
The Financial Services Industry (measured by volume) led the activity chart with 1.445 billion shares valued at N14.789 billion traded in 13,653 deals, thus contributing 76.66 per cent and 62.32 per cent to the total equity turnover volume and value respectively.
The Conglomerate Industry followed with a turnover of 172.117 million shares worth N1.091 billion in 1,835 deals.
The third place was occupied by Services Industry with 88.966 million shares worth N281.339 million in 912 deals.

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