Investors who took profit majorly in Oil & Gas stocks contributed the most to dipping the market by 0.62 percent in one week.
Week-on-week (WoW), NGX Oil & Gas Index decreased most by 3.44 percent, followed by NGX Banking Index, which was down by 1.52 percent.
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Meanwhile, the NGX Consumer Goods Index was up by 2.09 percent. Likewise, NGX Industrial Index rose by 0.72 percent, while NGX Insurance Index increased by 0.73 percent.
In the review trading week ended Friday, May 23, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation decreased to 109,028.62 points and N68.751 trillion respectively as against the preceding week’s close at 109,710.37 points and N68.953 trillion.
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Stock investors lost about N202 billion in one week. While mixed sentiments persisted in the market, profit-taking activities outweighed bargain hunting, causing the market to close the week in the red zone.
The week closed with a year-to-date (YtD) return moderated to 5.93 percent. This month, the market has risen by 3.05 percent.
