NGX Reports 0.97% Drop in All-Share Index This Week

The Nigerian Exchange (NGX) experienced a decline, closing the week with the All-Share Index down by 0.97%, ending at 248,363.55 points. Market capitalisation also fell to N161.260 trillion.

During the week, investors traded 2.715 billion shares valued at N158.280 billion across 209,986 deals, compared to the previous week’s 3.166 billion shares worth N155.023 billion in 206,662 deals. The financial services sector led trading activity, with 2.005 billion shares valued at N82.924 billion exchanged in 94,483 deals, accounting for 73.84% of total equity turnover by volume and 52.39% by value.

The consumer goods industry followed with 152.345 million shares worth N11.425 billion in 20,926 deals, while the ICT industry ranked third with 117.296 million shares valued at N15.256 billion traded in 22,556 deals. Most sectoral indices closed lower, with only the NGX Industrial Goods Index recording a slight gain of 0.02%.

Market breadth weakened, with 24 equities recording price appreciation, down from 44 in the previous week.