Persistent Losses Drag Stock Market Below N160trn Mark

The Nigerian stock market began the week sharply lower, as the overall capitalisation fell below the N160 trillion mark.
All-Share Index (ASI) dropped by 2,261.39 points, representing a loss of 0.91 per cent to close at 245,278.34 points. Consequently, equity market capitalisation shed N1.468 trillion, closing at N159.257 trillion.
The decline was driven by price depreciation in large and medium-capitalised stocks, among which are Dangote Cement, Vitafoam Nigeria, Nigerian Exchange Group, Ecobank Transnational Incorporated (ETI) and Custodian Investment.
Analysts noted that the session was characterised by bearish sentiment and stronger trading activity, as increased market particip...