The Nigerian equity market continued its decline for the second week, shedding N847.03 billion as the All-Share Index fell by 1.51%, closing at 97,100.31 points.
The market capitalization also dropped to N55.13 trillion, with 2.03 billion shares valued at N42.16 billion traded in 45,157 deals.
The financial services industry led in trading activity, contributing over 67% of the total equity turnover, followed by the oil and gas industry.
Despite the overall downturn, a few indices, including insurance and oil & gas, recorded gains.
However, most stocks saw declines, with Cutix, BUA Cement, and Oando among the biggest losers.
Analysts predict a continued bearish trend due to mixed earnings reports and economic uncertainties, including a slight reduction in inflation.
Punch