• Monday, July 15, 2024
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BusinessDay

Stock market loses N150bn in week ended Dec. 10

Domestic investors strengthen control of Nigeria’s equities trading

In the trading week ended Friday December 10, stocks listed on the Nigerian Exchange lost about N150billion amid mixed trading sessions of losses and gains. The week closed with three (3) days of gains and two (2) days of losses.

The stock market was down by 0.68percent in the review week, largely driven by sell pressure in industrial stocks. The Nigerian Exchange Limited (NGX) Industrial Index (-5.42percent) was the sole laggards in the week.

Other key performance indices closed the week in green: NGX Banking Index (+5.55percent), Consumer Goods Index (+0.11percent), Oil & Gas Index (+1.27percent), and Insurance Index (+1.24percent).

Read also:  How Nigeria’s external debt stock ballooned to $70bn

The Nigerian Exchange Limited (NGX) All-Share Index and Market Capitalisation which opened the review week at 42,167.91 points and N22.003trillion respectively stood lower at 41,882.97 points and N21.854trillion at the close of trading on Friday, December 10.

The record positive close (+0.47percent) on Friday December 10 helped push the equities market positive return higher to 4 percent year-to-date (YtD).