Nigerian Equities Market Loses N983 Billion Amid Profit-Taking

On Friday, the Nigerian equities market declined significantly, shedding N983 billion as profit-taking persisted. The market capitalization fell to N148.905 trillion from N149.888 trillion, marking a depreciation of 0.66 percent.

The NGX share index decreased by 1,531.81 basis points, closing at 232,049.02 points, down from 233,580.83 points. The downturn was driven by losses in shares of Aradel Plc, Access Holdings, GTCO Plc, Zenith Bank, and Nigerian Breweries, with 17 stocks declining compared to 13 that advanced.

Universal Insurance led the gainers with a 6.32 percent increase, closing at N1.01 per unit, while Aradel Plc was the top loser, dropping 10 percent to close at N1,417.50 per share. Trading volume decreased by 1.26 percent, with 388.690 million shares traded, valued at N18.430 billion, down from N19.212 billion the previous day.

Access Holdings led market activity with 32.689 million shares worth N745.970 million.