Equities Market Opens Week In Red With N106bn Loss
The Nigerian equities market experienced a decline, with the All-Share Index falling by 0.07% and market capitalization dropping by N106 billion. The downturn was driven by selling pressure on large and medium-cap stocks despite resilience in some key liquid names.
Why it matters
Market volatility in Nigeria reflects broader investor caution and shifting sentiment regarding the stability of the national economy.
The Nigerian equities market opened the new trading week on a cautious footing, as renewed selling pressure across several key counters pushed the overall capitalisation lower by N106 billion.
As a result, the All-Share Index declined by 164.55 per cent, representing a loss of 0.07 per cent, to close at 242,454.65 points. Similarly, the overall market capitalisation shed N106 billion to close at N156.518 trillion.
The market negative performance was driven by price depreciation in large and medium capitalised stocks, which are: Nigerian Exchange Group, Stanbic IBTC Holdings, UACN, PZ Cussons Nigeria and NEM Insurance.
Analysts noted that the marginal decline reflects continued cautious investor sentiment amid market pressure.
On market outlook, Imperial Asset Managers Limited said, “we expect the Nigerian equities market to remain volatile and highly selective in the next trading session.
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