Nigerian Stock Market Records N135.13bn Decline; MTN and Others Drive Sell-off

The Nigerian stock market experienced a decline of N135.13 billion due to profit-taking activities in MTN Nigeria Communications and 28 other companies. The Nigerian Exchange Limited Share Index (NGX ASI) depreciated by 0.13%, leading to a decrease in market capitalization.

Sector performance was mixed, with the NGX Insurance Index, Oil & Gas Index, and Banking Index all recording losses. Investor sentiment was predominantly bearish, with 29 stocks declining and 23 gaining.

Notably, Dangote Sugar Refinery saw the highest price gain. Overall, the market closed with a loss in market capitalization.