NGX Reports 0.13% Drop Despite Increased Trading Activity

On October 25, the Nigerian Exchange Limited (NGX) concluded the trading week with a 0.13% decline in the All-Share Index (ASI), which closed at 247,222.27 points, and a market capitalisation of N160.519 trillion. This decline occurred despite a notable increase in trading activity, with investors exchanging 2.024 billion shares valued at N110.773 billion during the week.

This turnover marked an increase from the previous week, where 1.659 billion shares worth N98.088 billion were traded. In volume terms, transactions rose by approximately 22.02%, while the value of shares traded increased by about 12.93%.

This suggests that while trading activity was stronger, it was insufficient to maintain a positive market direction. The market faced pressure, with more stocks declining than appreciating, as only twenty equities recorded price gains, significantly lower than the fifty recorded in the prior week.