54 firms drag down equities’ capitalisation by N1.58trn

By Peter Egwuatu

At the backdrop of profit taking in 54 companies’ stocks the stock market closed at the weekend shaving off N1.582 trillion from its capitalization. The market capitalisation closed at N161.26 trillion, down from N162.842 trillion the previous week.

Consequently, the Nigerian Exchange Limited, NGX, All Share Index, ASI, declined by 0.97% to close at 248,363.55 points from 250,808.27 points.

Analysts noted that the session reinforced the cautious tone that has gradually emerged in the domestic equities market following the strong rally recorded over the year.
Investors appeared increasingly focused on securing accumulated gains, particularly in stocks that ha...