Nigerian Stock Market Extends Losses: 55 Stocks Fall, 20 Gain

At the Nigerian Exchange (NGX), 55 stocks fell last week amid profit-taking, while 20 gained. Market capitalisation dropped 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. Trading totalled 2.024 billion shares worth 110.773 billion naira, with financial services accounting for 54.89% of volume. InvestData Consulting said the near-term outlook remains cautious, as selling in large-cap stocks could extend the market’s consolidation despite gains in selected shares.