Stock investors lose N1.7tn in one week
Investors lost N1.7tn after the close of trading on the floor of the Nigerian Exchange Limited one week ago, as Airtel Africa Plc, Beta Glass Plc, and NEM Insurance Plc equities experienced significant declines.
The market entered the trading week on October 14, 2022 with N25.91tn and closed on October 21, 2022 with N24.182tn.Informaion Guide Nigeria
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The depreciation was mostly driven by Airtel Africa, Beta Glass, and NEM Insurance’s collective N2.3 trillion loss at the close of the week’s trading.
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Airtel Africa Plc topped the list of decliners, falling by 27.10% to N1,312 per share from N1,800 per share. Additionally, Beta Glass Plc’s share price fell 9.98% to settle at N41.50 a share from N46.10 at the start of the trading week.
The local bourse closed in the red, down 667 basis points or 6.7% for the week.
The Insurance index decreased by 370 basis points to conclude the week under review, with a value traded of N4.4 million and a volume traded of 6.6 million units.Jamb Result
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