Nigerian equities closed lower on Friday, with the benchmark index slipping 0.19% as selling pressure intensified across key sectors.
The decline was driven by weakness in banking stocks and industrial heavyweights, including Presco, which weighed heavily on overall market performance.
91 billion in market capitalization as selling broadened beyond isolated names to affect major indices.
The session’s losses extend a broader downturn in the Nigerian market.
Over the recent trading period, investors have wiped out approximately N877.91 billion in market capitalization as selling broadened beyond isolated names to affect major indices.
The current slide reflects ongoing sentiment challenges rather than a single catalyst, with market participants grappling with persistent headwinds.
Banking stocks remain under particular pressure, though some market participants are viewing the recent dip as a potential contrarian entry point.