Nigerian stocks suffer N1.37tn monthly loss amid profit-taking
Nigerian stocks recorded a total loss of N1.37 trillion in February, with market capitalisation dropping below N21 trillion as investors continued to take profits on the previous month’s gains.
The stocks had gained over N1 trillion in January as the market capitalisation closed at N22.19 trillion from N21.06 trillion at the start of the month.
The Nigerian Stock Exchange All-Share Index, however, fell to 39,799.89 basis points on Friday, the last trading day in February, from 42,412.66 at the end of January.
The market capitalisation close this month at N20.823 trillion from N22.19tn at the end of January.
The benchmark index and the market capitalisation declined by 0.96 percent last week.
All other indices finished lower with the exception of NSE Banking, NSE AFR Bank Value, NSE MERI Growth and NSE Oil/Gas Indices which rose by 0.69 percent, 1.34 percent, 0.66 percent and 0.97 percent while the NSE ASeM and NSE Growth Indices closed flat.
