Investors on the Nigerian Exchange Limited (NGX) lost about N92 billion on Monday as the equities market opened the new week slightly lower.
Market capitalisation declined from N162.843 trillion recorded at the close of the previous trading week to N162.752 trillion, representing a decrease of approximately N91.3 billion.
The NGX All-Share Index also slipped by 0.06 percent to 250,667.86 points, extending the weakness recorded in the preceding week.
The benchmark index had closed the previous session at 250,808.27 points, meaning the market shed about 140.41 points during Monday’s trading.
Despite the marginal decline in the benchmark index, trading activity strengthened significantly.
Investors exchanged 875.28 million shares during the session, compared with 557.13 million shares traded in the previous session, representing an increase of about 57 percent.
The value of transactions also increased to N40.88 billion from N27.56 billion previously, while the number of deals rose to 53,887 from 53,371.
The increase in volume and transaction value suggests that market activity strengthened even as the benchmark index remained under pressure.
Monday’s performance followed a weak four-day trading week in which the All-Share Index declined 0.52 percent from 252,113.41 points to 250,808.27 points.
Equity market capitalisation had also closed the previous week at N162.843 trillion after declining 0.50 percent.
A total of 3.166 billion shares valued at N155.023 billion were exchanged in 206,662 deals during the preceding week, with Financial Services accounting for the largest share of market activity.
The October 5 session therefore opened the new week with a divergence between market direction and trading activity, as the benchmark index and market capitalisation declined while both volume and transaction value increased.
At the close of trading, equity market capitalisation stood at N162.752 trillion, while the bond market was valued at N60.210 trillion.
Exchange-traded funds had a combined market capitalisation of N53.115 billion.
With 875.28 million shares worth N40.88 billion exchanged across 53,887 deals, trading activity started the week on a stronger footing even though the NGX All-Share Index slipped 0.06 percent.
