Heavy sell off cost the market N610 billion this week. So far this year, investors have lost N1.646 trillion due to the negative sentiments that have marked the stock market activities.
All the key market performance indicators closed lower this week. A negative market breadth was recorded this week as 24 losers emerged against 6 gainers. The All Share Index (ASI) dipped by 4.28% to 26,216.46 basis points. Equally, Market Capitalisation fell by 4.28% to N13.658 trillion.
Trade Volume of 1.547 billion shares worth N24.263 billion was recorded in 21,646 deals this week compared to the 1.499 billion shares valued at N17.907 billion posted in 18.515 deals last week.
On the Activity Chart, the Financial Services sector dominated trade with 1.267 billion shares estimated at N17.205 billion traded in 15,149 deals. Specifically, it contributed 81.91% and 70.91% to the total equity volume and value respectively. The Conglomerates sector came next, trading 84.990 million shares worth N180.885 million in 654 deals. The Consumer Goods industry followed, trading 65.965 million shares priced at N3.918 billion in 2,235 deals.
As regards Index Movement, all indices depreciated with the exception of NSE Industrial Goods index, which grew by 1.08%. The NSE ASeM Index did not budge.