Nigerian Equities Market Declines Despite Increased Trading

The Nigerian equities market closed the week lower with the NGX All-Share Index dipping by 1.68%. Despite a surge in trading activity, market capitalization declined by 1.58%.

Profit-taking across major blue-chip counters led to the decrease, with a total of 7.325 billion shares worth N156.425 billion exchanged. The market breadth showed relative strength, indicating improved resilience.

Dangote Cement (NGX: DANGCEM)'s 10% decline significantly impacted the market. Investor sentiment remained mixed, with expectations of sideways trading and cautious optimism ahead of year-end results.