NGX All-Share Index Falls 1.35%, Market Capitalization Drops

The Nigerian Exchange (NGX) concluded the trading week on a bearish note, with the All-Share Index (ASI) closing at 239,351.16 points, reflecting a decline of 1.35%. The overall market capitalization decreased by 1.33%, settling at N154.534 trillion.

Trading activity was notably subdued, with investors exchanging 6.242 billion shares valued at N157.764 billion across 186,496 deals, a significant drop from the previous week’s 12.153 billion shares worth N176.058 billion in 224,146 deals. The bulk of trading activity was driven by the financial sector, where 5.594 billion shares valued at N56.431 billion were traded across 82,300 deals, accounting for 89.62% of total equity turnover by volume and 35.77% by value.

The ICT sector followed, with 143.704 million shares worth N29.793 billion traded in 23,740 deals. Only 18 equities recorded price gains during the week, a decrease from 26 the week prior.