Investors Lose N170bn To Bearish Pressure On Stock Market

The Nigerian stock market reversed course yesterday, with the overall capitalisation declining by N170 billion.
The All-Share Index declined by 265.08 per cent, representing a loss of 0.10 per cent, to close at 252,243.11 points. Similarly, the overall market capitalisation value shed N170 billion to close at N 161.669 trillion.
The market negative performance was driven by price depreciation in large and medium capitalised stocks which are; Stanbic IBTC Holdings, Zichis Agro Allied Industry, Wema Bank, Meyer and The Initiates Plc (TIP).
On market outlook, Cowry Assets Management Limited said, “the market is expected to face continued mild headwinds as tepid investor participation a...