Stock Market Sustains Downward Trend, Drops by N2.2tn

Stock Market Sustains Downward Trend, Drops by N2.2tn

Kayode Tokede

The Nigerian stock market extended its downward trend this week, with the capitalisation dropping by N2.2 trillion on profit taking in Dangote Cement, 39 others.

As Dangote Cement dropped by 3.6 per cent to close at N1,070.00 per share, the Nigerian Exchange Limited All-Share Index (NGX ASI) lost 3,398.80 basis points, or 1.41 per cent to close at 237,404.92 basis points.

Consequently, the NGX ASI in its Month-to-Date and Year-to-Date returns settled lower at -5.1per cent and +52.8per cent, respectively.