Nigerian Equities Market Declines by N444 Billion

On Friday, the Nigerian equities market experienced a downturn, shedding N444 billion, with the market capitalization of listed equities decreasing by 0.29% to N154.533 trillion from N154.977 trillion the previous day. The NGX All Share Index fell by 686.64 basis points, closing at 139351.16 points, down from 240037.80 points.

This decline was attributed to losses in shares of various companies, including Aradel Plc, UBA, Access Holdings, and Nestle, among others. The market breadth was negative, with 22 advancers and 26 losers, resulting in a year-to-date return of 54.36%.

Notably, RTBriscoe led the gainers with a 9.63% increase, closing at N11.95 per unit, while International General Insurance topped the losers' chart with a 10% decrease, closing at N3.87 per unit. The volume of transactions also saw a significant decline, with 416.670 million shares traded, down 85.49% from the previous day.