In response to the consumer price inflation report for December 2024, which put inflation at is34.8 per cent, the Nigeria equities market closed last week trading on a downturn as investors lost N1.4 trillion in five trading days.
Last week’s negative sentiment was primarily driven by widespread selloffs across most sectors, except the consumer goods space.
The market capitalisation of listed equities which reopened for transactions at N64.25 trillion last week Monday, closed on Friday at N62.85 trillion, shedding N1.4 trillion while the all-share index (ASI) depreciated by 3,003.57 or 2.2 per cent from 105,367.25 points to 102,353.68 points.
Market sentiment throughout the week remained mixed, with a significant 41.4 per cent drop in the weekly traded volume, which fell to 2.25 billion units. The traded value also saw a decline of 18.1 per cent, totalling N58.83 billion. A total of 63,650 trades…
Read More