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Nigeria’s equities market loses N28bn in one week

In the trading week ended Friday, November 19, investors in Nigeria’s listed stocks lost about N28billion as the market decreased by 0.12percent. The market continued to trade on a bearish note as sell-off activities outweigh demand.

All sectoral indices closed the week in red led by NGX Oil & Gas Index (-3.63percent), followed by NGX Banking Index (-1.60percent) and NGX Consumer Goods Index which was down by 1.40percent week-on-week. Others are: NGX Insurance Index (-0.47percent), NGX Industrial Index (-0.10percent), and NGX Pension Index (-1.92percent).

Read also: Nigeria’s equities investors gain N646bn in week ended Nov. 12

The market has risen by 2.76percent in November. The equities market’s year-to-date (YtD) positive return stood at 7.27percent on Friday.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation which opened the review week at 43,253.01points and N22.572trillion respectively decreased to 43,199.27 points and N22.544trillion.

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