Nigerian Stock Market Drops by N310.85 Billion on Profit-Taking in Zenith Bank and Others

The Nigerian stock market witnessed a depreciation of N310.85 billion as investors took profits in Zenith Bank and 31 other listed companies, leading to a 0.77% decline in the NGX. The market capitalization of companies listed on the NGX closed at N93.659 trillion, representing a 0.33% drop.

Various sectors experienced mixed performances, with the insurance index dropping by 1.5%, while the oil and gas index gained 0.1%. Notable gainers included Learn Africa and Me Cure Industries, while losers included Transcorp Hotel, Ikeja Hotel, and UACN.

Total trade volume rose by 258.34% to 1.973 billion units.