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Nigerian Stocks Extend Losses by 0.79%

Nigerian Stocks Extend Losses by 0.79%

Profit-taking activities on the floor of the Nigerian Stock Exchange (NSE) on Wednesday further plunged the market in the negative territory. The local bourse finished the session with a 0.79 percent decline, leaving the year-to-date return at -15.14 percent, following price losses incurred by most highly capitalised stocks, as market capitalisation depreciated further by N94 billion.

Specifically, the All-Share Index (ASI) shed 257.62 absolute points, representing a decline of 0.79 per cent to close at 32,454.03 points. Also, the market capitalisation declined by N94 billion to close at N11.848 trillion. This downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Dangote Cement, Nigerian Breweries, Unilever Nigeria, FBN Holdings, and Access Bank.

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