Investors Lose N2.42 Trillion as NGX Market Value Slips 1.6%

Last week, the NGX All-Share Index fell by 1.65% to close at 232,049.02. Market capitalisation slid by N2.42 trillion to N148.91 trillion from N151.33 trillion the previous week. Most sector indices declined, with the exception of consumer and banking value segments. Trading volume dropped to 2.32 billion shares worth N134.49 billion in 249,328 deals, down from 3.08 billion shares valued at N254.61 billion. The financial services sector led activity, accounting for over 65% of total volume, followed by ICT and consumer goods. Only eleven equities gained value while seventy-eight declined and fifty-seven held steady. International Energy Insurance and First HoldCo topped the losers’ chart, and Cornerstone Insurance led the gainers. Fortis Global Insurance shares were suspended mid-week to reconcile reconstructed share listings.

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