Nigerian Exchange Deals Up 42.6% Despite N35bn Loss In Market Cap

The Nigerian Exchange recorded a surge in deals by 42.6 per cent to 53,932 on Monday, despite a N35 billion loss in market capitalisation, as retail investors dominated trading while institutions stood back.
The NGX All-Share Index declined by 0.02 per cent to close at 254,245.21 points, while market capitalisation shed N35 billion to N165.08 trillion. The year-to-date return remains strong at 63.38 per cent.
Trading activity slowed sharply while deals jumped, implying much smaller average trade size. Volume traded declined by 48.15 per cent to 517.23 million units from 997.56 million units, while value dropped 44.67 per cent to N47.48 billion from N85.81 billion. Deals jumped 42.60 p...