Nigeria’s stock market closes lower after renewed selling pressure, with the NGX All-Share Index (ASI) falling on Monday and market capitalisation slipping by hundreds of billions of naira. Ghana MMA reports the ASI drops 0.25% to 247,736.24 points and market value declines by about N407.3bn. The report links the move to pressure in banking shares.
Other outlets describe the broader weekly picture as driven by profit-taking. Vanguard and Legit.ng say 54 firms weigh on equities, with the total market capitalisation down by about N1.58trn over the week to close around N161.26tn and the ASI down 0.97% on the week. While the Monday session is described as weak, Ghana MMA also reports a rebound on the previous Friday, when the market gains about N208.5bn and the ASI rises 0.13%, helped by buying interest in shares such as MTN and Oando.
Taken together, outlets depict a volatile period: a weekly decline attributed to multiple stocks, followed by a weaker Monday driven by banking-related selling, after an earlier rebound.
