Nigerian Equities Market Ends Nine-Day Positive Run, Loses N458 Billion

The Nigerian equities market, as represented by the Nigerian Exchange Group (NGX), closed lower, ending a nine-day winning streak. The market capitalization dropped by N458 billion, with key stocks like MTN Nigeria Communications Plc and Aradel Holdings Plc experiencing declines.

The NGX All-Share Index lost 714.66 basis points to close at 166,057.29 basis points, with a year-to-date return settling at 6.7%. Sector performance varied, with the NGX Banking Index gaining, while the NGX Oil & Gas Index dropped.

Nestle Nigeria recorded the highest price gain, followed by NCR Nigeria and Jaiz Bank.