Nigerian equities closed marginally lower on Monday, with the benchmark index on the Nigerian Exchange Limited (NGX) slipping 0.05%.
The modest decline reflects ongoing profit-taking in high-capitalisation stocks, extending the selling pressure that has characterised the market since the start of the week.
The weakness was broad-based across key sectors, particularly in banking and industrial heavyweights.
This follows a sharp stall in bullish momentum on Wednesday, when aggressive selling in large-cap names wiped approximately N800 billion off the total market capitalisation.
Friday’s session also saw the index close lower by 0.19%, driven by similar sectoral headwinds.
Investors appear to be consolidating positions after the recent volatility, with the current session showing a slight deceleration in selling intensity compared to the mid-week selloff.