Nigerian Stock Market Loses Over N4 Trillion in Value in Single-Day Selloff
The Nigerian stock market witnessed a heavy selloff, with the Nigerian Stock Exchange (NGX) losing over N4 trillion in value in a single day. The All-Share Index (ASI) dropped by 5.01%, reflecting a weakened investor sentiment.
Additionally, the naira depreciated against the US dollar, easing by 72 kobo to N1.437.29 compared to the previous trading day. This decline in both the stock market and currency value indicates a challenging economic environment in Nigeria.
Plus234Feed summary based on reporting from Legit NG. Read the original report below.
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