Nigerian Stock Market Extends Losses, 55 Stocks Decline and 20 Gain

At the Nigerian Exchange (NGX), 55 stocks declined last week amid profit-taking, while 20 advanced. Market capitalisation fell by more than 206 billion naira to 160.519 trillion naira, and the All Share Index closed at 247,222.27 points, down from 247,539.73 the previous week. Investors traded 2.024 billion shares worth 110.773 billion naira, with financial services leading trading volume. InvestData Consulting said the near-term outlook remains cautious and continued selling in large-cap stocks could prolong the market’s consolidation.