Losing Streak Returns As NGX Market Cap Falls N984bn Amid Heavy Selloffs

The Nigerian equities market opened the new trading week on a bearish note, as sustained profit-taking and broad-based sell pressure dragged overall market performance lower, wiping off N984 billion from investors’ wealth.
Data from the Nigerian Exchange showed that the All-Share Index (ASI) declined by 1,534.01 points, representing a 0.63 per cent drop, to close at 243,204.73 points. In the same vein, market capitalisation fell by N984 billion, ending the session at N155.986 trillion.
The downturn was largely driven by losses in medium and large-cap stocks, including Aradel Holdings Plc, Nigerian Aviation Handling Company Plc, Oando Plc, First Holdco Plc, and Transnational Corporatio...