Business
NSE Records N1.7 tr. Value Loss
The Nigerian Capital Market for eleven months running drifted in the red as it recorded a value loss of N1.691 trillion and the turnover down by 88.15 billion units of shares.
According to the Nigerian Stock Exchange records, the Exchange from January to November 2009, traded a total of 95.3 billion units of shares valued at N638.11 billion compared to the 183.45 billion units of shares worth N2.33 trillion recorded in the corresponding period of 2008.
On monthly basis, a total transaction volume of 9.33 billion units of shares was traded in 114,607 deals in November at the value of N56.12 billion in contrast to a total of 10.7 billion units of shares valued at N73.31 billion exchanged during October in 134,394 trades. This shows a drop of 12.51 per cent and 23.45 per cent in the traded volume and value which had risen by 17.9 per cent and 11.1 per cent respectively in October.
The banking sub-sector was the most active when measured by turnover volume in the month of November with a traded volume of 5.75 billion units shares valued at N36.83 billion exchanged in 64,961 deals, according to the NSE report.
The Insurance sub-sector emerged the second most active in volume terms trading 1.7 billion units of shares worth N1.3 billion recorded in 8,815 transactions.
The Information Communication and Technology (ICT) sub-sector came third having recorded a total of 373.1 million units of shares valued at N1.1billion traded in 1,218 deals while the conglomerates sub-sector followed with a transaction volume of 286.51 million units of shares worth N2.94 billion exchanged by investors in 4,452 deals.
The Food, Beverages & Tobacco sub-sector placed fifth with a traded volume of 280.4 million units of shares worth N4.25 billion recorded in 9,071 trades.