Nigerian Equity Market Dips 0.86%, Loses N1.3 Trillion

The Nigerian equity market, represented by the Nigerian Exchange (NGX), dipped by 0.86%, resulting in a loss of N1.347 trillion in market capitalization. This downturn was driven by a broad sell-off across key sectors, primarily influenced by profit-taking and a risk-off sentiment among investors.

The market capitalization closed at N155.152 trillion, with the All-Share Index declining by 2,098.31 points. Notable stocks that depreciated included Guinness Nigeria, which fell by 10% to close at N447.30, and MTN Nigeria, which declined by 8.63% to N836.00.

Conversely, R.T. Briscoe Nigeria emerged as the top gainer, rising by 10% to N2.09 per share.

The total volume of trade increased by 31.09%, amounting to 1.268 billion units valued at N75.226 billion across 102,665 deals. FCMB Group led in activity with 160.591 million shares traded, valued at N1.770 billion.