THE Nigerian stock market, tracked by the All-Share Index (ASI), concluded last week’s trading with a notable downturn, amid losses in the industrial goods and insurance sectors.
The Nigerian Exchange (NGX) ASI shed 3,097.38 basis points, closing at 102,353.68, marking a 2.94 percent decline from the previous week’s close of 105,451.06, thereby interrupting a six-week streak of gains.
Furthermore, market capitalization retreated to N62.8 trillion, down from N64.3 trillion the previous week. This, equities investors cumulatively lost N1.45 trillion over the 5-day trading sessions
Market activity also showed a significant decline, as weekly trading volume fell by 38 percent to 2.2 billion shares, compared to 3.6 billion shares in the prior week.
In terms of market breadth, 3 l3 equities recorded price increases, a decrease from 51 equities the prior week.
Conversely, 57 equities saw price declines, which is an increase from 39 in the previous week.
The NGX Premium Index plunged by 7.05…
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