Market decline sees N21bn dip in market cap amid mixed sectoral performance

Last week, the domestic bourse experienced a decline as three out of the five trading sessions closed lower, resulting in the All-Share Index shedding 0.04 per cent week-on-week (W-o-W) to close at 100,022.03 points. This downturn led to a market capitalisation decrease of N21 billion W-o-W, closing at N56.581 trillion.

Despite the overall market decline, sectoral performance was mixed. The NGX Consumer Goods index fell by 0.69 per cent W-o-W. However, other sectors showed resilience, with the NGX Banking and NGX Oil & Gas indices leading the gainers’ chart, posting increases of 3.87 per cent and 3.01 per cent respectively.