NGX Loses ₦832bn as Market Valuation, Trades Slip
The Nigerian Exchange (NGX) Limited recorded a bearish outing last week as market valuation fell by ₦832 billion, while investors cut back on trading activity by 2.5 percent. According to the NGX weekly market report, investors traded 3.11 billion shares worth ₦90.29 billion in 118,018 deals across four days, compared to 3.19 billion shares valued at ₦85.39 billion exchanged in 142,477 deals the previous week. The bourse operated for only four days due to the Eid-ul-Maulud holiday. The All-Share Index (ASI) dipped by 0.94 percent, closing at 138,980.01 points against the previous week’s 140,295.50 points. Market capitalisation also dropped to ₦87.93 trillion, down from ₦88.76 trillion. Sector Performance The financial services industry dominated activity with 2.54 billion shares worth ₦30.35 billion traded in 52,390 deals, accounting for 81.55 percent of total turnover volume and 33.62 percent of value. It was […]