Business News

Stock Exchange Loses N191bn as Investor Sentiment Turns Bearish

Nigerias stock

By Dipo Olowookere A weak investor sentiment triggered by profit-taking further sank the Nigerian Exchange (NGX) Limited by 0.32 per cent on Wednesday. The stock exchange could not bounce back at midweek as a result of the sustained selling pressure influenced by the absence of a positive market stimulus. As a result, the market capitalisation of the NGX deflated by N191 billion at the close of business to N58.905 trillion from N59.096 trillion, and the All-Share Index (ASI) declined by 336.82 points to 104,181.32 points from 104,518.14 points. Losses were recorded in the financial services sector, with the banking index