Nigerian stock market ended the week on a bearish note, with investors recording a significant loss of N491 billion.
The market capitalization declined by 0.64% to close at N75.962 trillion, down from N76.453 trillion the previous week.
The All-Share Index also dropped by 776.92 points or 0.64% to 119,995.76 from 120,772.68.
The negative performance was driven by selloffs in stocks such as Legend Internet, BUA Cement, FTN Cocoa Processor, Oando, and 28 others. The market breadth closed negative, with 32 stocks declining and 28 advancing. Legend Internet led the losers, falling 9.98% to close at N8.03 per share, while BUA Cement dropped 9.92% to close at N95.40 per share.
Other notable losers included FTN Cocoa Processor, which declined 9.76% to settle at N3.33, Oando, which lost 8.72% to close at N56.50, and McNichols, which shed 8.44% to finish at N2.17 per share.
On the other hand, some stocks managed to gain, with Neimeth Pharmaceuticals rising 10% to close at N5.94 per share, Learn Africa advancing 9.91% to N5.10 per share, and Mecure gaining 9.91% to settle at N12.20.
In terms of trading activity, a total of 625.78 million shares valued at N12.78 billion were traded in 21,800 transactions, down from 892.97 million shares worth N18.23 billion traded in 25,375 transactions the previous week. Ja Paul Gold led trading activity with 88.26 million shares worth N192.04 million, followed by Access Corporation, Caverton, and Zenith Bank.
