Nigerian Stock Market Declines by N2.2 Trillion

The Nigerian stock market continued its downward trend, recording a loss of N2.2 trillion. The Nigerian Exchange Limited's All-Share Index (NGX ASI) decreased by 3,398.80 basis points, or 1.41%, closing at 237,404.92 basis points.

Year-to-date, the NGX ASI has settled lower by 5.1%, with a 52-week decline of 8.4%. Sector performances were predominantly negative, with industrial goods down 3.4%, insurance 2.8%, banking 1.5%, consumer goods 0.6%, and oil and gas 0.1%.

The market breadth was broadly negative, with 40 stocks declining compared to 13 advancing. Dangote Cement (NGX: DANGCEM) saw a 3.6% drop, closing at N1,070.00 per share.

Conversely, NPF Microfinance Bank (NGX: NPFMCRFBK) and Transnational Corporation (NGX: TRANSCORP) recorded gains of 9.18% and 7.32%, respectively. The total volume of trades increased by 4.33% to 691.639 million units, valued at N116.848 billion, with First Bank Holdings leading in activity.