Nigerian Stock Market Plummets by N2.09 Trillion on Dangote Cement Selloff

The Nigerian stock market witnessed a substantial decline of N2.09 trillion WoW, primarily attributed to profit-taking in Dangote Cement, causing the market capitalization to close at N91.415 trillion. The NGX share index dropped by 2.24%, closing at 143,722.62 basis points.

Market sentiment remains bearish with 60 decliners overshadowing 19 gainers. Notable gainers include NCR Nigeria, Universal Press, and Tantal, while Intern Energy Insurance and McNichol were among the top decliners.

Total turnover was 2.668 billion shares valued at N106.264 billion.