Last week, investors in Nigeria lost N767 billion at the end of trading on the Nigerian Exchange Limited’s (NGX) platform.
The market traded for four days since the Federal Government declared Monday a public holiday in honor of the 2022 Democracy Day event.
The NGX weekly market report showed that a total turnover of 940.892 million shares worth N11.494 billion in 20,077 transactions was traded by investors.
This is as against the previous week which transacted 1.8 billion shares worth N19.494 billion in 21,723 deals last week and amounted to a 0.55% growth.
The NigerianExchangeGroup’sweeklystockmarketreport had suggested the decrease in the local stock market can be linked to the MPC resolutions, which saw the MPR increase by 150 basis points, resulting in profit-taking in the stock market and a shift to higher-yielding securities.
Topping the activity chart comes the Financial Services Industry (measured by volume) 692.325 million shares worth N6.220 billion traded in 10,615 transactions, accounting for 73.58 percent of total stock turnover volume and 54.12 percent of total equity turnover value.
The Conglomerates Industry came in second with 89.87 million shares worth N246.06 million traded in 764 transactions, and the Consumer Goods Industry came in third with 54.23 million shares worth N1.23 billion traded in 2,923 transactions.
UBA Plc, Sterling Bank Plc, and Transcorp Plc, the top three holdings by volume, traded 304.84 million shares worth N1.29 billion in 2,103 deals, accounting for 32.39 percent and 11.18 percent of total equity turnover volume and value, respectively.