NGX Loses âŚ832bn as Market Valuation, Trades Slip
The Nigerian Exchange (NGX) Limited recorded a bearish outing last week as market valuation fell by âŚ832 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 âŚ90.29 billion in 118,018 deals across four days, compared to 3.19 billion shares valued at âŚ85.39 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 weekâs 140,295.50 points. Market capitalisation also dropped to âŚ87.93 trillion, down from âŚ88.76 trillion. Sector Performance The financial services industry dominated activity with 2.54 billion shares worth âŚ30.35 billion traded in 52,390 deals, accounting for 81.55 percent of total turnover volume and 33.62 percent of value. It was […]
