Stock Market Loses N256bn, Extends Bearish Streak To Fifth Straight Session

The Equities Market on the Nigerian Exchange extended its losing streak to a fifth consecutive session, as sustained risk-off sentiment dragged the market lower.
The NGX All-Share Index declined by 0.16 per cent to close at 250,273.50 points, pulling the year-to-date return down to 60.83 per cent and trimming market capitalisation by N256 billion to close at N162.496 trillion.
The decline reflects continued cautious sentiment and profit-taking as investors remained reluctant to sustain the market’s recent gains.
Analysts stated that the session was characterised by bearish sentiment and weaker trading activity, as continued selling pressure pushed the market further into negative te...