Nigerian Stock Market Loses N623bn as Lafarge Africa, Others Drive Bearish Trend

The Nigerian stock market experienced a bearish trend, resulting in a N623 billion loss, with Lafarge Africa Plc and 47 other stocks contributing to the decline. The All-Share Index (ASI) dropped by points, representing a percent decrease, while market capitalization closed at N trillion.

Key stocks like Lafarge Africa, Cadbury Nigeria (NGX: CADBURY), and PZ Cussons Nigeria (NGX: PZ) recorded losses. Market analysts predict cautious trading sessions due to weak investor sentiment, potentially extending the market's downward trend.

The market breadth closed negative, with 11 stocks advancing and 48 declining. NCR Nigeria saw the highest price gain, while AIICO Insurance (NGX: AIICO), Prestige Assurance (NGX: PRESTIGE), and Wema Bank (NGX: WEMABANK) led the losers' chart.