Nigerian stock market sheds N2.2 trillion in four trading sessions

Investors successful the Nigerian banal marketplace recorded a full nonaccomplishment of N2.205 trillion successful 4 trading days, arsenic the marketplace closed the week connected a bearish note.

On Friday alone, investors mislaid N475 billion, marking the 4th consecutive league of diminution during the week.

From Tuesday to Friday, losses stood astatine N1.141 trillion, N74 billion, N515 billion, and N475 billion, respectively.

The downturn was mostly driven by sustained profit-taking successful heavyweight stocks and an involvement complaint chopped by the Central Bank of Nigeria by 50 ground points to 26.5 percent successful the week nether review.

On Friday, the marketplace capitalization dropped from N124.238 trillion astatine the opening of trading to N123.763 trillion astatine the close, representing a diminution of 0.38 percent, oregon N475 billion.

Similarly, the All-Share Index fell by 0.38 percent, shedding 741.03 points to adjacent astatine 192,826.78, compared to 193,567.81 recorded successful the erstwhile session.

The year-to-date instrumentality besides declined to 23.91 percent.

Despite the wide antagonistic performance, marketplace breadth closed affirmative with 39 gainers against 25 losers connected Friday.

Among the gainers, Sovereign Trust Insurance led the illustration with a 9.95 percent summation to adjacent astatine N2.21. Other notable gainers included RT Briscoe, NGX Group, Ellah Lakes, and Omate...