Nigerian Stock Market Plunges N557bn on Profit-Taking in Lafarge, Others

The Nigerian stock market witnessed a decline of N557 billion as investors engaged in profit-taking activities, particularly in Lafarge Africa Plc and 38 other companies. The NGX share index dropped by 0.52%, closing at 165,397.37 basis points.

Sector performance was broadly negative, with the insurance index down by 1.4%, consumer goods by 1.3%, and banking by 1%. Notable gainers included John Holt, NCR Nigeria, and Infinity Trust Mortgage Bank, while losers included Omatek Ventures, International Energy Insurance, and Lafarge Africa.

Total trade volume decreased by 6.62% to 768.256 million units valued at N21.189 billion.