Despite Inflation Easing, Stocks Extend Losses Amid Selling Pressure

The Nigerian Exchange fell for a third consecutive week despite headline inflation declining for a fourth straight month in September. Market capitalization shed more than N535 billion, while the All-Share Index fell 0.3% to 247,539.73 points, weighed down notably by Zenith Bank, MTN Nigeria, First HoldCo and GTCO. Trading volume and value dropped 39% and 38% week-on-week; banking and insurance shares declined, while oil and gas and consumer goods gained. Cordros Capital expects bargain hunting and third-quarter earnings to support sentiment, while InvestData advised investors to assess how oil-price movements could affect costs and individual companies.