Stock Market Depreciates by N1.32tn on Negative Sentiments

Stock Market Depreciates by N1.32tn on Negative Sentiments

Kayode Tokede

The Nigerian stock market opened the new week on a negative note, extending its losses for the second consecutive trading session, with the capitalisation declining N1.32 trillion.

Specifically, the Nigerian Exchange Limited All-Share Index declined by 2,049.65 basis points or 0.84 per cent to close at 241,749.11 basis points. Similarly, the overall market capitalisation value shed N1.32 trillion to close at N155.130 trillion.

The market negative performance was driven by price depreciation in large and medium capitalised stocks which are; BUA cement, NASCON Allied Industries, PZ Cussons Nigeria, Cadbury Nigeria and First HoldCo.