The Nigerian equities market extended its bearish trend on Monday as investor sell-offs pushed key indicators further into negative territory. The All-Share Index dropped by 265.99 points to close at 239,085.17, representing a decline from Friday’s benchmark of 239,351.16.
Correspondingly, overall equity market capitalisation shed N137.12bn during the trading session, contracting to N154.40tn compared with N154.53tn recorded at the close of the previous week.
Over the five-day trading period, the benchmark index fluctuated between a high of 241,611.23 points on Tuesday and a low of 239,085.17 points on Monday, recording an average of 240,167.17 points for the week.
Trading activity across the Exchange yielded a total turnover of 668.68m shares exchanged across 45,817 deals in the equities sector.
Sectoral performance reflected broad selling pressure across multiple market segments. The NGX Banking Index dipped to 2,458.04 points, driven down by notable losses in tier-one and tier-two lenders, including Fidelity Bank Plc, which dropped 6 per cent to close at N18.80, and United Bank for Africa Plc, which lost 1.44 per cent to settle at N44.45.
