Nigerian Stock Index Drops 0.38% to 192,826.8 as Dangote Cement Falls 6.09%
The Nigerian All-Share Index fell 0.38% to 192,826.8 points, extending its losing streak to four sessions. The index lost 741.1 points from the previous close of 193,567.8, driven by a 6.09% decline in Dangote Cement. Trading activity slowed to 823 million shares from 868 million shares the prior session. Market capitalization dropped to N123.7 trillion from N124.2 trillion. The year-to-date return eased to 23.91%. Sovereign Trust Insurance and RT Briscoe led gains with 9.95% and 9.93% increases, while Mercure and Meyer fell 9.97% and 9.90%. Fortis Global Insurance led trading volume with 146.6 million shares. The decline reflects sustained selling pressure in large-cap stocks, with Dangote Cement's drop being particularly impactful. If the trend continues, deeper retracement may occur.