Investors in the Nigerian stock market lost N270bn last week as 25 equities recorded price declines.

Investors in the Nigerian stock market lost N270bn last week as 25 equities recorded price declines.

The Nigerian Exchange Limited All-Share Index and market capitalization depreciated by 1.30 per cent to close the week at 38,648.91 basis points and N20.14tn respectively.

All other indices finished higher with the exception of NGX ASI, NGX-Main Board, NGX MERI Growth and NGX Industrial Goods, which depreciated by 1.30 per cent, 3.26 per cent, 1.33 per cent and 0.05 per cent respectively, while the NGX Growth and NGX ASeM Indices closed flat.

A total turnover of 981.15 million shares worth N10.38bn in 15,001 deals were traded last week by investors on the floor of the Exchange, in contrast to a total of 1.06 billion shares valued at N12.83bn that exchanged hands in 17,854 deals the previous week.

The financial services industry (measured by volume) led the activity chart with 695.80 million shares valued at N5.18bn traded in 8,616 deals, thus contributing 70.92 per cent and 49.86 per cent to the total equity turnover volume and value respectively.