Nigerian Equities Market Declines by 2.9% Amid Investor Profit-Taking
The Nigerian equities market witnessed a 2.9% decline as investors booked profits, leading to a decrease in key market indicators across sectors. The Nigerian Stock Exchange (NGX) All-Share Index and market capitalization depreciated by 2.99% and 2.89%, respectively.
The total turnover was 3.575 billion shares worth N107.011 billion, with the financial services and industrial sectors leading in trading activities. Despite the overall market decline, a few stocks recorded strong gains, while others faced losses.
Market analysts attribute the bearish tone to cautious investor sentiment amid persistent inflationary pressures and expected monetary tightening.
Plus234Feed summary based on reporting from The Will. Read the original report below.
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