NGX Index Declines 0.14% Despite Market Capitalization Rise

The Nigerian Exchange Group's All-Share Index (ASI) experienced a decline of 0.14% last week, closing at 43,462.13 points, down from 43,798.76 points the previous week. This decline occurred despite an increase in market capitalization, which rose to approximately ₦157.056 trillion from ₦156.444 trillion.

The trading week saw a total of 2.819 billion shares valued at ₦182.499 billion traded across 226,729 deals, marking a decrease in trading activity of 9.98% in volume and 22.73% in value compared to the previous week. The financial services industry led trading activity, contributing ₦99.697 billion in value from 2.006 billion shares.

The top three equities by volume included First Holdco Plc, FCMB Group Plc, and Access Hold Plc, accounting for 33.33% of total equity turnover. The banking index emerged as the top performer, advancing by 9.30%, while the oil and gas index retreated by 0.79%.

Overall, the market breadth remained positive with 44 gainers against 35 losers.