The Nigerian stock market opened the week on a bearish note, with investors losing N276 billion in market value.
Market capitalisation on the Nigerian Exchange Ltd (NGX) fell by N274 billion, dropping to N68.621 trillion from N68.895 trillion on Wednesday.
Specifically, the market capitalisation, which opened at N56.572 trillion, closed at N114 billion or 0.2 per cent downward, to close at N56.458 trillion.
The market breadth closed slightly negative, with 18 laggards and 17 leaders on the exchange floor.
The weak performance was driven by sell-off in shares of GTCO, UBA, Access Holding and FBN Holdings.
NEM Insurance led the laggards’ chart by 8.57 per cent to close at N3.20 per share.
The stock market reversed positive gains with the market capitalisation dropping N391 billion to close at N21.751 trillion from N22.142 trillion on Wednesday.
Also, the market capitalisation of listed equities declined by N11 billion to N21.025 trillion from N21.036 trillion reported on Thursday.
