The Nigerian stock market shed N14.5 billion last week as the total value of shares traded fell to N85.2 billion, down from N99.7 billion in the previous week.
Figures from the Nigerian Exchange show that investors traded 2.7 billion shares worth N85.2 billion in 127,284 deals, compared with 3.2 billion shares valued at N99.7 billion in 132,711 deals a week earlier.
The Financial Services sector led activity by volume with 1.9 billion shares worth N37.8 billion across 56,026 deals.
This represented 69.8% of total equity turnover volume and 44.4% of value. The ICT sector followed with 184.87 million shares valued at N6.19 billion in 12,893 deals, while the Services sector ranked third with 176.51 million shares worth N813.25 million in 6,011 deals.
Abbey Mortgage Bank, Fidelity Bank, and United Bank for Africa were the top three traded equities, accounting for 875.82 million shares worth N16.42 billion in 11,389 deals. Together, they represented 32.02 percent of total volume and 19.27% of value.
Despite the lower turnover, the NGX All-Share Index and Market Capitalisation appreciated by 1.12%, closing the week at 140,545.69 points and N88.9 trillion, respectively.
