NGX Market Capitalization Falls by N366 Billion in One Week

The Nigerian Exchange (NGX) experienced a decline in market capitalization by N366 billion over the past week. The market began on a bearish note on Monday, resulting in an investor loss of N81 billion.

A reversal occurred on Tuesday, with investors gaining N917 billion within five hours. However, on Wednesday, investors faced a significant loss of N1.6 trillion.

The market closed positively on Thursday, with a gain of N72 billion, but ended the week on a negative note on Friday, losing N344 billion. The total turnover for the week was 3.875 billion shares valued at N161.757 billion across 334,745 deals, contrasting with the previous week’s turnover of 7.772 billion shares worth N374.040 billion over 402,945 deals.

The financial services industry led in trading volume, contributing 62.19% of total equity turnover. Notably, 38 equities appreciated in price during the week, while 74 depreciated, and 48 remained unchanged.