Daily Post· 1h ago· 1 min read
The Nigerian stock market closed in the red on Wednesday, wiping out the previous session's gains as investors recorded a combined loss of N648 billion.
The bearish performance reversed the N481 billion gain posted on Tuesday, with sustained sell-offs dragging key market indicators lower.
Market capitalization declined by N648 billion, or 0.41 percent, to close at N159.344 trillion, down from N159.992 trillion recorded in the previous trading session.
Similarly, the All-Share Index (ASI) shed 1,004.38 points, representing a 0.41 percent decline, to settle at 246,980.17, compared to 247,984.55 on Tuesday.
As a result, the market's year-to-date return moderated to 58.71 percent.
The market breadth also remained negative, with 45 stocks recording losses against 23 gainers, reflecting the prevailing bearish sentiment among investors.
On the losers' table, Cornerstone Insurance and…
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