The Nigerian Exchange Limited (NGX) stock market saw a big drop of N539 billion from one week to the next, mostly because people were selling off big company stocks to make profits, especially with all the uncertain economic conditions. This drop made investors less confident, showing a return to a negative market mood.
The total value of the market went down from N56.578 trillion to N56.039 trillion, and the NGX All-Share Index also fell by 0.95% to 97,520.54 points. In different sectors, the results were mixed. The NGX Oil & Gas and NGX Insurance sectors did the best, with increases of 7.29% and 3.81% respectively.
The NGX Consumer Goods sector went up by 0.34%, but the NGX Industrial Goods and NGX Banking sectors dropped by 6.84% and 0.74% respectively.
The market had more stocks going up than down, with 45 stocks increasing in price, 33 decreasing, and 73 staying the same. Deap Capital Management & Trust had the biggest gain, rising 31.53% to N1.46 per share.
