Nigerian Equities Market Drops N2.2trn, Index Falls 2.5%

The Nigerian equities market experienced a significant decline of N2.2 trillion in market capitalization during the week ending August 22, with the NGX Index dropping by 2.5%. The market saw a mixed sentiment throughout the week, with a negative trend prevailing until Friday when a slight recovery was observed.

Trading activities showed a consistent downward trend from Monday to Thursday before a minor uptick on Friday. The Financial Services Industry led in terms of volume and value of shares traded, followed by the Consumer Goods Industry and the Services Industry.

The week's total turnover was recorded at billions of shares worth billions of naira.