Nigerian Equity Market Loses N472 Billion Amid Bearish Trend

The Nigerian equity market sustained its bearish run, shedding N472 billion as profit-taking activities continued to dominate trading on the floor of the Nigerian Exchange on Friday. The market capitalization decreased by 0.38%, closing at N123.763 trillion, down from N124.238 trillion the previous day.

The NGX share index fell by 741.04 basis points, settling at 192,826.77 points compared to 193,567.61 points reported earlier. Sovereign Trust Insurance led the gainers' table with a 9.95% increase, closing at N2.21 per share, followed by RT Briscoe with a 9.93% rise to N1.13 per unit.

Conversely, Security PLC topped the losers' chart with a 9.97% drop, closing at N1.81 per unit. Trading volume decreased by 5.15%, with 823.829 million shares traded, down from 868.535 million the previous day.

However, the value of transactions rose by 10.37% to N34.750 billion across 63,759 deals.