Nigerian Equities Market Extends Losing Streak Amid Investor Sell-Off
The Nigerian equities market extended its losing streak as investors sustained sell pressure, causing a 0.50% decrease in the All-Share Index to close at 148,781.90 points. Market capitalization also declined by N472 billion to settle at N19.526 trillion.
The bearish trend was driven by profit-taking in large-cap counters across major sectors, particularly insurance, industrial goods, and aviation. The market sentiment remained largely negative with 40 losers against 13 gainers, reflecting investor caution amidst macroeconomic headwinds.
Notable stock movements included AIICO Insurance declining by 9.89% and MTN Nigeria Communications Plc remaining unchanged. Investors are expected to continue rebalancing portfolios in the short term amid a cautious outlook.
Plus234Feed summary based on reporting from The Will. Read the original report below.
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