Nigerian Stock Market Ends Week Negatively as Naira Weakens

The Nigerian Stock Market ended the week on a negative note with reduced trading activity, totaling 3.575 billion shares worth N107.011 billion across 146,429 deals. The top three equities in terms of volume were Fidelity Bank Plc (NGX: FIDELITYBK), FCMB Group Plc (NGX: FCMB), and Aso Savings and Loans Plc.

Market sentiment was negative, with 20 equities appreciating in price, lower than the previous week. The Nigerian Naira closed weaker against the US Dollar at N1,421.73 per dollar, attributed to heightened investor anxiety following threats of US military intervention in Nigeria.