Nigerian stocks lose N41 billion as large caps drag market lower
Trading on the Nigerian Exchange Limited (NGX) on Wednesday, reversed earlier gains with the equities market closing marginally lower as losses in large and medium-capitalised stocks outweighed broad-based buying interest. The post Nigerian stocks lose N41 billion as large caps drag market lower appeared first on Nairametrics .
On Wednesday, Nigeria's stock market experienced a slight setback as the All-Share Index (ASI) fell by 63.46 points, a small decline of 0.03%. The market capitalization dropped by approximately N41 billion to N158.915 trillion. Despite positive market breadth with more stocks advancing than declining, the significant losses in large and medium-capitalised stocks were the primary reason behind the marginal decline.
Key contributors to the downturn included Beta Glass, NASCON Allied Industries, Stanbic IBTC Holdings, CWG, and Access Holdings. However, some stocks managed to rise, such as Oando, McNichols, and NEM Insurance. Trading activity weakened throughout the session, with total volume traded falling by 34.47% to 426.840 million shares.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
