Profit-Taking Wipes ₦257bn Off Nigerian Stocks as NGX Ends Week Lower

The Nigerian equities market ended Friday lower as profit-taking wiped ₦257 billion off investors’ wealth. Market capitalisation fell by 0.16% to ₦156.623 trillion, while the NGX All-Share Index dropped 398.18 points to close at 242,619.20. Fortis Global Insurance, Omatek Ventures, John Holt, RT Briscoe and Dangote Sugar were among the major losers. Fortis Global Insurance declined 9.31%, while Dangote Sugar shed 7.79%. International Energy Insurance led the gainers, rising 9.92%. Trading volume fell sharply by 66.64% to 1.41 billion shares, while MTN Nigeria recorded the highest value of trades at ₦31.37 billion. Despite the day’s decline, the market remains up 55.91% year to date.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.