Stocks Record N1.58trn Weekly Lose Amid Broad Sell-off

The Nigerian equities market closed the week on a bearish note, as renewed sell-offs across selected stocks weighed on overall market performance.
The benchmark NGX All-Share Index (ASI) declined by 0.97 per cent week-on-week (WoW) to close at 248,363.55 points, while market capitalisation shed N1.58 trillion to close the week at N161.26 trillion. Consequently, the market’s year-to-date (YTD) return moderated to 59.60 per cent.
The negative weekly performance was driven by losses in Aradel Holdings, Nestle Nigeria, Fidelity Bank, First Holdco and Access Holdings.
Market sentiment remained weak, as market breadth closed negative with 54 decliners against 23 advancers. Tripple Gee & C...